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HomeMy WebLinkAbout1984-08-13 84-294 ORDERw 84-294 Introduced by Councilor Car, August 13, 1984 CITY OF BANGOR (TITLE.) Mrilrrf Authorizing Issue of $770,000.00 Aggregate Principal server of Houde and a Tax Levy Therefor_ By the My Couueit of the City of Bowser: ORDERED, T9AT pursuant to Section 8 of Article of of the City Charter (Private and Special laws of 1931, Chapter 56) and all amendments thereof and acts additional thereto, there is hereby authorized the issue and gale at one time r from time to time of Seven hundred seventy Thousand Dollars ($])0,000) aggregate principal answer of serial bands .of the City of danger. The pro- eeds derived from the sale of said bonds, less premium, if any, shall be used and are hereby appropriated for the acquisition of land or interests in land, the purchase of equipment, ennstruction of permanent public improvements r for any other Purposes authorized by general law or special law or hereafter applicable to the City of Sanger, all of which are hereby authorized, to wit (1) Street Reconstruction $250,000.00 (2) Airport Impra ements-- Domestic Terminal 110,000.00 (3) City Nursing Facility - Roof 100,000.00 (A) .Westside Pool 80,000.00 (5) Sidewalk Reconstruction 75,000.00 (6) Salt Storage Facility 75,000.00 (7) Target North Subdivision - Road d Water 50,000.00 (8) City Nursing Facility - Temperature Controls 30,000.00 $770,000.00 The estimated period of utility of each of the iapro ements, equipment o other forms to be financed with the proceeds of said bonds is hereby determined to be at least 25 years. THAT the date, maturities, de,wmiTations, interest rate or rates, plat of payment and other details of each issue of said bonds, including provision for their sale and award, shall be determined by the Finance Director, with the approval of the Tinence Gomaittee and the Chairman of the City Council, and said bonds shall be signed by the Finance Director, c untersigued by the Chair - run of the City Council and be in such fern as they shall determine by their execution thereof. Any issue of said bonds may be consolidated with and issued at the same time a any rother i of beads authorized prior to their issuance, at the discretion of the Finance Director, with the approval of the Finance Committee and the Chairman, of the City Council. TMT in each of the years during which any of the bonds are outstanding there shall be levied atax in an spanner which, with other r, if any, ailable for that purpos sshall be sufficient to pay the interest on said bonds. payable in such year and the principal of such bonds maturing in such year. THAT pursuant to Section 10 of Article VT of the City Charter and any other babbling authority, the Finance Director, with the approval of the Finance Committee and the Chairman of the City Council, is hereby authorized to issue tems temporary notes in anticipation of the foregoing bond i said notes to besigned by the Finance Director, countersigned by the Chairman of the City Council and cutherwise to be in such form as they shall detereine by their execution thereof. THAT a qualified bond counsel be requested to render an opinion o opinions approving the validity of the heads authorized by this Orders I IN CI9x COUNCIL AU9Ust 13, 1984 Referred to Finance Counittee - Consider t- yBeu¢llIa�r'seating. Oepu�City Clerk In City Council August 2791984 Passed ity C1 84-294 ORDER Title. . AutFarieing en�Isaue.of X9]]0 /000.00. Aggr yate,?rin jFal Amaunt, of sauna ane a Tax Iety ii;zefor. Inntrooduced led by �// ' Councilman f/TYOFfgI�CL ptr f(fNkCan, I IN MY COUNCIL August 13, 1984 Referred to Finance Committee - Consider nextregular eaetiug. Depupy City Clerk In City Council August 2711984 Passed ty "ama e4 -a94 ORDER Titley AyMotiving an.Issue of $1IDy000 y0O Aa1�re9ate PriaclEal Amount of Bonds aad a Tax Iavy merefor. " Introduced an 'led by cowniiman N4 Ccity )y C/tl C(F HON