HomeMy WebLinkAbout2013-04-08 13-125 ORDERCOUNCIL ACTION
Item NO.' 13-125 .�
Date: April 9, 2013
Item/Subject: ORDER, Placing a Council Order Entitled "Authorizing a $3,000,000 Bond
Issue to Repair Bangor Public Library Roof" on the June 18, 2013
Municipal Ballot
Responsible Department: Legal
Commentary:
The City Council of the City of Bangor has voted to approve borrowing in the amount of
$3,000,000 for the cost of replacing a portion of the roof on the Bangor Public Library. The City
Charter that Orders authorizing the issuance of general obligation securities of the city in a
principal amount of five one-hundredth of one percent of the last certified state valuation of the
City for a single capital improvement or item of capital equipment be submitted to voter
referendum. Because the principal amount to be borrowed as approved by the City Council
exceeds five one-hundredth of one percent of the last certified state valuation of the City voter
ratification of the Council action is required.
This Order, if approved, will place the question of the June 18, 1013 municipal ballot.
Manager's Comments:
Associated Information:
Budget Approval:
Legal Approval:
Introduced for
X Passage
_ First Reading
Referral
Department Head
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City Ma-nager
Finance Director
City Solicitor
Assigned to Councilor Hawes
CITY OF BANGOR
13-125
APRIL 8, 2013
(TITLE.) Order, Placing a Council Order Entitled "Authorizing a $3,000,000 Bond Issue to
Repair Bangor Public Library Roof" on the June 18, 2013 Municipal Ballot
WHEREAS, the City Council of the City of Bangor has voted to approve borrowing In the amount
of $3,000,000 for the cost of replacing a portion of the roof on the Bangor Public Library; and
WHEREAS, of the Charter of the City of Bangor requires that Orders or Resolves authorizing the
Issuance of general obligation securities of the city in a principal amount of five one-hundredth
of one percent of the last certified state valuation of the City for a single capital improvement or
Item of capital equipment be submitted to voter referendum; and
WHEREAS, the principal amount to be borrowed as approved by the City Council of the City of
Bangor exceeds five one-hundredth of one percent of the last certified state valuation of the
City.
By the City Council of the City of Bangor.
ORDERED, THAT
That the attached Council Order 13-217 entitled "Authorizing a $3,000,000 Bond Issue to
Repair Bangor Public Library Roof" shall be placed on the June 18, 2013 Municipal Ballot in a
form as required by Article VIII, Sec. 19 of the Charter of the City of Bangor.
IN CITY COUNCIL
April 8, 2013
Motion Made and Seconded for Passage
Pa ed
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CITY CLERK