HomeMy WebLinkAbout2000-01-24 00-88 ORDERCOWCx4 BOTTOM
Data: 1-29-00 It® po QQ-80
Item/Subject: ORDER conflraing order Amending Order 98-362, To Amann Project
Description
Reaponalble Department: Finance
Cmentary: At its meeting of December 27, 1999, the Council approved an
amendment to Counbcil Order X98-362, allowing Mnd proceeds for the Freese's
Building project to be used to purchase the building. Unfortunately, the
notice of the public hearing was not posted in a timely fashion, and so this
order has returned to you for its second reading aM a public Fearing.
apologize for the oversight, and hope that YOU will approve this order
forthwith.
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Order, public notice
Budget Approval:
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Legal Approval:
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CITY OF BANGOR
(T E.)Order, Confirming Order Amending Order 98-362 to Amend Pmject
DasaipBon
By the 00, Co oftl aty ofBangw:
ORDEREDr
WfB:RBAS, On September 28,1998 the City Council of &a City of
Bangor adopted Order 98-362 authorizing the issuance of the City& general
obligation bonds in an amount not to aced $2,000,000 a be used to provide
financing for a loan or grant of bond proceeds to a private developer for
the aoquisiton, reconstruction, meovadon and development of the float
two-thiMa of the former Fmwe's Department Store buBding in dowetowm
Bangor, a be used for commercial purposes or for older nee-for-profit
activities, eat as shag be determined ad approved by the Finance Director,
with the approval of the phone Committee; and
MIEREAS, the City Council desires to amend the Project description
contained in the fire[ paragraph to include the Option for the City to
purchase the renovated former Freese's Department Some; and
WI�REAS, On December 27,1999, allowing a first reading on December
13,1999, the City Council comidered an amendment fm the foregoing
purpose; and
WHBREAS, the City Charter requires that such amendment be made
allowing a public hearing held upon 10 days published and posted notice;
NOW, THEREFORE, BE IT OBDERh'D by the City Council of the City ofBogor,
ThaC the project description in Order No. 98-362 as considered by the City Council on
December 27,1999, is hereby amended as follows:
"To provide funding far the City to purchase the renovated former Freese's
Department Same building ora provide fiaencing with a Icon or great of
bond proceeds to apnvete developer for the acquisition, reconstruction,
renovation and development of the front two-thiels ofthe former Freaw's
Department Store budding is downtown Bangor, no be used for commercial
purposes or for other not--err-profit activities, all as shall be determined
and approved by the FinanceDirector, vriW the approval of the Finmce
Committee."
w
THAT, in all othwmVwts, Ordu No. 98-362, as mamded, is hereby
ratified and=firmed.
IN CITY COMM
isometry 24, 2000
Motion to Open Public gearing
!lade and Seconded Public gearing
Opened, No one from the Public
ave forwrd !lotion to Close Public
Hearing Made and Seconded
Public gearing Closed
Nation for Passage Made and Seconded
00-88
0RD➢6
Title, Confriming Order Amending Order
98-362. to Ammu d Project Description
pp
PUBLIC HEARING
CITY OF BANGOR
The Bangor City Council will hold a Public Hearing at its
regular meeting at 7:30 Per, on Monday, January 24, 2000
in the City Council Chambers on the third floor of City Hall,
73 Harlow Street, Bangor, Wine, for the Purpose of Hearing
Public Comment on a Proposed Amendment to the Project
Description contained in Order No. 98-362 regarding the
Purchase of the former Freese's Department Some building.
A copy of the entire Order is available to the public in the City
Clerk's Office at Bangor City Hall. The public is invited to
address the Council on this matter..
January 13, 200 Coil E. Campbell, City Clerk