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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 /�--