HomeMy WebLinkAbout1975-08-04 304 AC RESOLVE304 AC
Introduced by Councilor Speirs, August 4, 1975
f�i _ f�es{- CITY OF BANGOR `�"al seating,
(TME.) NEBoty�y A4thp izing_App„pp,i t1 n,,,,,af Bonds,f-.,;Purchase_f
Park
WXEREAB, there presently exists between the City Of Bangor and Elaine Bass
Pierce an agreement for the purchase by the City of Certain land adjacent
to Bass Parke said agreement Providing for the purchase of said land by
means of installment payments over a 10 -year period, aid
WHEREAS, the City.has made application to the Economic Development Admini-
stration for a grant for purposes of providing funds for certain improvements
at Base Park and on the parcel of land to be acquired pursuant t0 said
agreement with Elaine Bass Pierced and
wOM EAS, the City's 'staff has been informed by representatives of the
Economic development Administration that said grant application will not be
approveduntil the City appropriates and dedicates monies suBEirc"ni',ent t0
meet the City's obligations under said purchase agreement.
By the City Council of the City of Bangor
RESOLVED, net the sum of $101,900 be transferred from the Capital Fund to a
Trust and Agency Account to. be established by the Finance Director for pur-
poses of providing sufficient funds for the Purchase of said land of Elaine
Bass pierce in accordance with said purchase agreement. The Capital Fund to
contain an appropriately identified receivable to be reduced yearly by the
annual payment for said purchase. Thee
Trust and Agency account to contain
an appropriately identified Liability t. the Capital Fund for such transfer.
IN CITY COUNCIL - 304 AC
Augest 4, 1975
Received 1st reading. Rules 5,3
-qui stn ding f '' - R E S O L V E
AppeOpriation Rasolve on two parate day w
suspendedoby y, following r and _�_
no t councilors t'n9 y /:Y3lcL1V///'-� -
R Soucy
Rlg i .Henderson,Councilors,
absent: Soucy andCi, SpeBrous, and Gass. absent: AutboriZing Appropriation of Funds for
Received, 2nd
and cans. -
Received ma regains. Final passage
W ntheci following yea aid no vote: Purchase of land Next to Bass Park.
Councilor,-voting yea: yadGeller, Sidney,
xeancilory Rooney, Soucy dna SpaBroun
Councilors absent: Ealaacci', a[ountas
and edea.
CITY CLE �