HomeMy WebLinkAbout2009-11-09 10-011 ORDERCOUNCIL ACTION
Item No. 10 O 1 i
Date: 11-09-2009
Item/Subject: Order, Ratifying and Confirming Final Passage of Bond Orders 09-291 and 09-292
Responsible Department: Finance
Commentary:
In preparing the closing documents related to the City's recent $14.2 million general obligation bond
issue, the City's bond counsel noted that the public notices related to the authorization of two
Council Orders authorizing these bonds were incorrect. The original notice published in the Bangor
Daily News contained a typographical/input error; by conducting a new public hearing and adopting
the attached order, the prior actions of the Council with be ratified in accordance with the City's
Charter.
A PUBLIC HEARING IS REQUIRED
Department Head
Manager's Comments:
Recommend approval.
14�-et"46� �UW�
City Manager
Associated Information:
This item will require a public hearing
Budget Approval:
Finance Director
Legal Approval:
dy Solicitor
Introduced for
X Passage
First Reading
Page _ of
Referral
_
Assigned to Councilor - stone 10 O 1 i
November 9, 2009
CITY OF BANGOR
(TITLE.) Order, Ratifying and Confirming Final Passage of Bond Orders 09-291 and 09-292
WHEREAS, the City Council previously adopted the following Orders (the "Prior Orders':
• Order 09-291 adopted September 30, 2009 authorizing $1,365,878 of bonds; and
• Order 09-292 adopted September 30, 2009 authorizing $11,765,000 of bonds; and
WHEREAS, the City Charter requires that final action on the forgoing Prior Orders be taken
following 10 days published and posted notice; and
WHEREAS, the notice of public hearing published prior to adoption of the Prior Orders was
defective; and
WHEREAS, a corrected notice having now been published and posted, the City Council desires
to conduct a public hearing on said Prior Orders on 10 days published and posted
notice and to ratify and confirm their final passage;
NOW, THEREFORE, Be It Ordered by the Bangor City Council, following a public hearing on said
Prior Orders, that the City Council hereby ratifies and confirms the adoption of, and to the
extent necessary, readopts said Prior Orders.
IN CITY COUNCIL
November 9, 2009
Motion Made and Seconded to Open
the Public Hearing
Public Hearing Opened
No one from the Public came forward
Motion Made and Seconded to Close
the Public Hearing
Public Hearing closed
Motion Made and Seconded for
Passage
Passed
`CITY CLERK
# 10-()1 1
(TITLE,) onf irmin
Final -Pawsage of Bond Orders 09-291
Assigned to Councilor—�'�'`/�
10 01l
CITY OF BANGOR, MAINE
NOTICE OF PUBLIC HEARING
Notice is hereby given that the Bangor City Council will hold a public hearing at 7:30 p.m.,
November 9, 2009 at City Hall, 73 Harlow Street, Bangor, Maine on proposed action to ratify
issuance of the City's bonds previously authorized as follows:
• Order 09-291 adopted September 30, 2009 authorizing $1,365,878 of the City's
general obligation bonds to finance vehicle replacements and energy conservation
projects.
• Order 09-292 adopted September 30, 2009 authorizing $11,765,000 of the City's
general obligation bonds to refinancing existing general obligation bonds and
lease obligations.
All persons who desire to be heard on the proposed borrowing are invited to attend the public
hearing. The City Council will consider action authorizing the bonds immediately following the
public hearing.
Copies of the proposed order will be on file and may be reviewed at the office of the City Clerk
prior to said public hearing.
To be posted in two or more public places and published in a newspaper published in Bangor
not less than 10 days prior to final action by the City Council.
t W 1528598.1 }
io•oll