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Home My WebLink About1990-02-12 90-71 ORDERDate yV2'12-90 Item No. 90-71 item/Subject: Opdelfy�aitAoslaiag an Iome, of $9,195,000 Pri Amite Responsible Department: P � � � and,a lass: �f ��a� r Commentary: 1te atteclai Dentlear %gll Faovdfar fiudin9 f rials lint of projecta outlined w the first page at the oNei. Tllam Facjexa breves zaeiveC Preliminary tr✓iav by thea Fdrorc'e Camftt® of tlea Cwscit antl conform to the Citya Proposed £i year capital ini avarent Plan. In acmpdarme witls the City Chats Fablic notice of tle Fuoiaosrl boxxmdng rams[ he gitan P ro final Cromad.l action. Itsis includes publication. A FmoPoeed schedule for this band i ser alro arreadear. Plateau rote that to meet this schedule, fires Council awrovtst is Psopcsseadi for the aewM sea" in February. lav— pepemrvmrNmd Marseilles Commands; City Mnmger Associated Information: Council Order Budget Approval: N/A Firen[a Oirce Legal Approval: 6v SMWiwr Introduced For passage ❑ First Reading page _ of— . ®Referral to Finance Committee 90-]1 ebugnedtof mNor Stove, February 12, 1990 CITY OF BANGOR (TITLE.) (®TDeraa-*s:.� an Iesm,of $9,195.000 AYB PrLcipal ...... amount of Burda ard a Tax levy, Thereof BY the City Cessna ofA1a City Of Denver: ORDERED, TBAT THAT Pursuant to Section B of Article W of the City Ct taz (Private and Special Ices of 1931, Cheptet 56) Seri all aoercbente thereof and arta adtlitiorel thereto, them is hereby aetFosia i the issue and sale at one Live or from titre to tlm of Biro MUllon, come hundred ninety-five thvavd tlollars ($91195,000) agyegete Principal aiwmt of aerial hada of the City of Banger. The proreals derived Exon the sale of said border leas predtm if arty, shallbe used and are hereby appropriated for the porcheae of a yAp ent, mnetrettm of peaoeneart public fvgaovetvnce or fer any ati er � authnri by germinal lav or special lav or hereafter applicable to the City of Barger, all of which are hereby au borived, to vlti Puking Garage 65,350,000 s TreataetK 1,500,000 Sbdiea nest Pmlects 750,000 hbenge cy aarerators for Sec Lift St cue; 65,000 Bee Fire Sthtitn 450,000 Sawyer Arse 380,000 Bmolit:m oahris Facility 175,000 Hagan Brad Widening - ]50,000 Softball Field 8elocation 150,000 Hildmth Street armLogment matrict 125,000 UM yvned Tne6c Fareval 100,000 Recycling ligitilaent 80,000 weer arterial i tting nest Pmlimina y m,gineering 75,000 t imvn SUbdhvishon Street Ivfawmemta 40.000 69,195,000 The estimNed period of utility of each of the imprwenerca, aryiprae¢ or other itens to he fbvarmd with the preceeeds of said herds is hereby to be at least 25 years. = the date, matmitfes, danmvatioea, interest rate m rates, .plata of p nt an o details of each ieaue of said Inds, ieC11%11 � pmviefon for thit sale an arid, shell to dsTrznnfred by the Fina+ce Director with the approval of th Fina Cmmtttse an th f2afmue of ttre City Council, and said bone s i be si9,sd by th FL Dirstor, caaK signed by Lire CM1atman of Lha City G it and De in each fom as they by their anscution tiw f. Any issue of said bons aay be comolidaied with and issued at tFe amre time m arty o[tez issue of bmda authrizsi prior to their lasvame, at of the Fiamce Director, wiN the approval of the Pinanx Cmndttea an tM Chaiman of The City Csantl. TtmT the bons hereby authorized may la nada subject to call for zero; cion, wtth or wit t pr®Lun, Wfom U date fixed for final payor i+t Of Mrds, as D ided in 30 A M.R.S.A. Section 5772, out s[fon 6, as a+mrtlei, m shall by t Fines Director with th - apprmral of the Fin I ittee aM Ctaiaian of the City f aue£1. T in each of the years during which mry of the horde are oatatadLg there shell ) lavim a Tar in an arount which, with ot}ei rcnamms, if airy, available for that purinse, shall be suffdc to pay the interest on saitl bona, payable in such yaaz an The p incip1 of such boeds maturieg in such year. TIAT puauant to S%Y1m 10 of Article Vi of t City Charter and any other mebling aut ity, the Firarse Director, wbth the approval of Ch Ffearce CamdtV mi Lire Chaiman of the City Caucil, is hereby aut izei to issue taignrary rotas in anticipation oft he fomping herd issue, said rod s to be signer by Lha Finanxe Director, ccvntersignel by TSe Chaimen of ttie City Coueeil sed otherwise to ba m such fom as they shall aecemtne by ry+. eaenmd,on threof. 'DAT a qualified End manael bre requirai to rme m pinion or opiniom approving th validity of t bons authrizn by this mYar. 90-71 Councilor Stone Assiped m Co cilor CITY OF BANGOR (TITLE.) V1frbgr7 .............. P"bhor'zLg a Issae of_ $9,395,000 Aggegate Principal Rmunt of a and a Tex levy Thereof BY roe City Ca ofUw City ofJtaa -, ORDERED, THAT THAT pussnt to H tim 8 of Article vi of rhe City cha (Private and Special Laws of 1931, Chapter 56) arxd all mmndrents bhorrof and xts additdoal tMmt , rhera is hereby auWrimel the issue aid sale at one thre or free t ro time of Nine pillion, three hiudred nasty -five tlnmaM dollars ($9,395,000) agyegalee principal amend of aerial boors of tle City of It n . The proceeds derived fry tia sale of said innds, less preaiea if ay, shall be trel and are hereby appraluiated for tfa prAhmse of equiprait, ocns r icn of pemeoent peblic impamemnte or for any other purposes auehortnai by gere i law or special law or iaraft¢ applicable to the City of &imps, all of which are hereby aurbarizel, to wit, Parking Carage 5,350,000 SsoMary Trmtaent 1,500,000 Sesez sopa arbor Stmlies 6 Projects 10000,000 byfey Cererators� lift Stations 65,000 N Fire Gtatimi 450,000 Sm Area 180,000 veiolition O is Facllity 175,000 Hogan eoad Widxnvi9 - 150,000 pi3dreth Street oevelcpmnt District 125,000 UrchrgirniM Tame 8emval 100,000 Recycling tkPr t 1800000 Outer Arterial Peadtting a Preliminary mglneer g 75,000 Fbtdlaan Subdivisiwt Street voprovemnts 40,000 $9,395,000 T estixeted p ied of utility of each of tl imPruvaimss, �tmvanb or other item ro be ffnaraud with tl Proceeds of said bards is hereby to be at last 25 }sus. 9 Ha Axa, vaturitiee, damme.wt :, itRatest rete ox rates, pixy of P*m ani other deisfla of each issue of said binds, ixlFii+y Pros for Heir apps and am shall be dst tSo o Ly the PLarwf ni ity Cwithour Hie aiguwal of tM Fi 1 � Cinfttby aid the Chairman of Ha City Ccsxil, all said bolls shall to signed by the Fininre Director, counterstgnei by tte Clansman of Oo City Council all be in such form as they shall oan by tb era, tion tleteof. Anry issue of said bolls may ba tnneolidared with ani issuetl at the eama thre as eery off issue of cords auUcciaed prior to tLeir fsauance, at of the discretion of the Finance Oixecof t with the cuorii. of Ha FSnwxe Camdtree all the Amin ve of Hie City Caucil. 9WT tie Lords heieby auHarisei may be vada cuhjOct to call for raleiption, with or witl pr iuu, before the data fired for final payaent of comps, m previdad in 30.A M.R.S.A. Section 5772, m �-•e^^ 6, as ate, as shall be iMnm.<.e,+ by the Firarce nirscor wlth He app o Of t Ffnaroe Cot ttw all the Chainaan of the City Council. Si MTmsuchofthe years i g which my of tFe trade ate outstanding th ze shall he levied a tax in an antant which, with o[tar if aey, available for tlat gupow, Shall ba sufficient to pay tic interest on Safi hds, payable in such leas ani the pr=4 of such bottle xaturfng in such year. niPT icreuant to Section 10 of Article vi of the City C.hai[er sed ny o en&lu auU ity, tla Finance Dfra;mr, with the aPPzvual of the Finance Cremittee all Ha CJiefauan of the City Cnevrfl, is hemw autMrlaei to issue temporary rotes in anticipation oft he f ping bond issue, said rotes to tc si7nd by the Finance Director, cowvtetsigne i by the Chainean of the City council and otletwlse to ba in such fow as Hay Shall ietannuvx ly heir emcution Hexv£. 7yAT a qualified b bowel be tegui i to r an opvnion or cpb appradng the valiiity of Ha h ds auHarfsed by this Ord¢. IN CITY COUNCIL February 12, ,1990 Refer to Finance Committee Cix 'LEPR In City W 11 February 26,1990 P wed by Substitution And Passed Cowcilor savvy c Abstav - Recyling a Irmsent Arsenskel ccpy Attach 90-]1 O RUER Title, Auther izing an Ieaue of �9�I95�000Aggregate Principal Amount of Bonds and a Ten Levy Thereof. ................................. .... aaf�j �� nu m iup m, to ...... �iv✓"��. NAF^4............ Councilman