HomeMy WebLinkAbout2000-12-11 01-57 RESOLVEItem No. of -s]
Date: 12-11-00
Item/Subject: RESOLVE Appropriating the proceeds of up to $9,500,000 aggregate
principal amount of general obligation bonds and/or notes issued in anticipation
thereof
Responsible Department: Finance
Commentary: The attached resolve appropriates up to $9.5 million In bond proceeds to Pond the
addition to Bangor High School, about which you recently met with Superintendent Irvin. It is the
companion plece to the order authoHdng the bond issue.
Department Head
r I
fJ
K� City Manager
associated Information: 4"L�
Budget Approval:
/`q7 Rnance Director
City Solicitor
Passage
3 Rest Reading Page_ of_
Referral
01-5]
ArngoedWC0=iI0r Blanchette December 11, 2000
CITY OF BANGOR
(TITLE.) Ra9oly% Appropriating the proceeds of up to $4,500,000 aggregate
principal amount of general obligation bonds and/or notes issued in
anticipation thereof
By ft OtY cbma of the Gly of asupmn
WHEREAS, the Bangor School Committee has determined that there exists a need for
additional classroom and related space at Bangor High School; and
WHEREAS, the cost of such addition Is expecthd to approximate $4,500,000; and
WHEREAS, the Bangor Qty Council has, by separate order, authorized the Issuance of
up to $4,500,000 in general obligation bonds to fund this project;
NOW, THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
BANGOR, THAT the proceeds of the aboV refemnced bonds, In an amount not to
exceed $4.500,000, as well as any Interest eamings thereon, are hereby appropriated
for the cosh (as defined in the bond order) of the additional space to Bangor High
School; and
BE IT FURTHER RESOLVED, THAT the Finance Director Is Instructed to establish the
accounts necessary to execute this project
IN CITY COUNCIL
December 11. 2000 01-5I
First Heading K
6 B850LPE
TY CLBaB
Id CITY COUNCIL
Ueeember 27. 2000
Motion for Passage Made
and seconded
Passed
MTLE,)AppropriaHog the Proceeds of Up To
$4,50o.000 Aggregate Principal Poount of
Ceneral Obligation funds and/or Notes Issued
In Anticipation Thereof
Attigned to Councilor
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