HomeMy WebLinkAbout1993-06-14 93-318 ORDERCouncil Action
Date _{ 74 93 Item No. QA- Is
Olmenr Declaration of O£ficiel latent eursuimt to Tieaesay
Item/Subject: Fegulatlnn §$1.103-18
Finaser;
Responsible Department:
Commentary:
9u attachm @slat is�r�epce�se�axy to ineuxa dist the City cappliea with various
ti99bOty x�ula telxl ttje{l tit¢ govectujnQ the Of ptoieei 2ROeO6P9 r691'B in
adrarga of issuing bortla to cePr the £u11 cats Of the lavjecte involved. R is
fairly noasal practiOe f a m®suty to begin to work on boM laxoJ%'ts after
tte authorivatiwr £or tie iseuarse of bvtla has; been given yet ]017 r to the Bale
Of tbosa b:ntls. in oxtl for airy Of the expanse Usuaed during this peri.Od ro
bemrni rsii iuu i from the broths, tt City nest lues a rotice of official intent to
m eo. 97he attached Atler will falfM tbia xv�uu�vr� t.
Dor,mrs nr Nea6
Manager's Comments:
I
CRY Moaagn
Associated Information:
• Rf]ar
Budget Appmeal:
Fim [e Dircm
Legal Approval: n
cry Sol ivimr
Intrass d For
C
passage
First Reading paw _ of
`;Referral
93-318
Ae®pmdto Councior Frankel, June 14, 1993
CITY OF BANGOR
(TITLE.) (orber, .._.. ,_�+ ^.of. official. rnta Pursuantto ary _.....
Regu^:^� 4 1.103-19
Bye Oily CburwH of Ow city Ofadmor:
ORDERED,
MT
YlleOFAS, the City of Bar , w (the "Issuer' ) msrently 3mmds to gamed
with caifain arms[ m in4, si&ccsLm �, Park
noproverenc, erd cm� saxec oFer£law projsm{ and
4S@RBAA, the Ieser inmrds m fimme the cora of The pJj thomgb tta
issuance of bolls a ,utas in enticipstial tM sof: and
w3C9eaS, Cezi in
of the crate of Tae Project m be paid by the Issuer prloc' to
the 3Ji u of ester or bonda all frmn the proois
thereof; erd
uyffiIiPAS, azeasury Regula g 1.103-19 ieguixe's that an Issue &slam its
official £mart to mimmrae expeMi.tures wlth pzoceetls of bcrxoed e
Prior to the dam of sxpe,dit ;
IiL['], ''B�•UFE, the Issuer dose hereby dealers I" official intent as folloss:
1. Oeclamtim of 1 t. 19e Ieeuet xeaaonebly expects to mimbux.e
exp�tuma mule on the nmjem xdN rte proo tls of notes or horde
to be issued by the Issuer 3n the maximmi l incipal amount of
$5,300,000.
2. ammi 1 time of Prooerbi to 44uch y� l�latee.
AtTacled as 4tfhiDit A ie a reasonably acartato tpxieisl funs ^ti,
description of the type allse uof. the property wi mspsct, to whtnb
m'� will be nude.
3. Public „at+v, ttv of Official Intern. of Official
Intent shall be as a public xecroxd of the Issuer ano shall
bs mainmi i and otMeuise supervised by its C1exk on b ]w.lf of tM
Issuer'. This Oslazatien of Official Intent shall be comanuusly
available for 1a9,1ic 4aPecr:..., at t o£flco of Tta Clerk &sing
nonoel tasE s louts of the Issuer on every business day of the
Aeric& beginning m later than ten days after The dam lean£ all
�g until tba date Che binds or rnt� am isausd m mivtasae
said oxpm+&itmres.
4. Treasmv ea*•, rt: This is a dslaration of official �t
Pursuant to the .wi.:.a.mno of Tr spry lkegulation U 1.103-19.
IN CITY COUNCIL
June 14, 1993
Passed
cxxx CLEEK
S
93-318
ORDER
Title,
Declaration of Official„hY{S AS PFVR4ant
to Treasury Regulation 4 1.103-18
.............. I .......................
L (f- IOu"riW
fledged to
.FFa........
Councilman
93-318
Eq®Z1' A
Project
N¢vrtK
Asset Life
Street Peconetnxtiw erd Puetlay
$ 1,748,650
]2 Yaars
Sitleoalks Reconetractial
102,%0
12 }ears
Sncal Share/cTOl-a*IIS road emjecia
250,10o
12 }ears
ClweoaL Bittred0 P T» M
512,500
20 laars
vehicles
461,250
10 yeazs
14th sweet Sep�
m,00o
20 years
IMadNuiook mw M (Phase 5)
446,000
20 }+vrs
Antic Sank Separation (Phase 5)
Li5,000
20 veers
Best Suvrter St. sa �trvc =
107,000
20 yvaca
Parkview Avem.e Awuservction
39,000
20 yeah
lkasme,R Plant Bxpare - 43
500,000
20 years
0mmis Cauls leluweeents
75,000
10 ymas
Parks InT ma
125.000
10 ymrs
'Neel series A
$ 5,300,000
are 15.35 }ears