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2006-086 Council Resolution
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2006-086 Council Resolution
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Last modified
9/17/2014 12:44:41 PM
Creation date
9/17/2014 8:35:12 AM
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City Council
Council Document Type
Master List Resolution
Meeting Date
05/22/2006
Council Meeting Type
Regular
Resolution #
06-086
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• <br />• <br />Project Designation & Description: Total Project Cost <br />County Road 19 Watermain and <br />Lois Lane Project Costs $545,000 <br />Costs of Issuance 16,900 <br />Underwriter's Discount 7,980 <br />Rounding Amount 120 <br />Total $570,000 <br />(c) it is necessary and expedient to the sound financial management of the affairs of <br />the City to issue $570,000 General Obligation Utility Revenue Bonds, Series 2006B (the <br />"Bonds ") pursuant to the Act to provide financing for the Project. <br />2. In order to provide financing for the Project, the City will therefore issue and sell Bonds <br />in the amount of $562,020. To provide in part the additional interest required to market the <br />Bonds at this time, additional Bonds will be issued in the amount of $7,980. The excess of the <br />purchase price of the Bonds over the sum of $562,020 will be credited to the debt service fund <br />for the Bonds for the purpose of paying interest first coming due on the additional Bonds. The <br />Bonds will be issued, sold and delivered in accordance with the terms of the following Terms of <br />Proposal: <br />(The remainder of this page is intentionally left blank.) <br />
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