Chavenelle Letter to City Solicitor_07.23.1974July 23, 1974
Mr. R. N. Russo
City Solicitor
Dubuque, Iowa
Dear 4omo:
I am attaching a copy of a report, "Ice Facility", a summary financial
estimate of Five Flags -Ice Rink and a scratch tabulation of a bond
schedule.
It is planned to bring the program before council on July 29 and request
a bond election on the proposition.
It sesms to me that the bonding questions involved are:
1. That the proposed complex is a recreation center or facility.
2. That a portion of the financing will be from private sources.
3 That a parking lot has been included which will be a part of
the city parking system or district.
In addition to recreation facility questions, I am also faced with questions
about bonding for Airport construction.
The airport people want to build a T-hangar (to rent 3 spaces to aircraft
owners). The rent would probably amortize the expense over 20 years.
The estimated cost is $70,000.00.
They would also like to resurface a runway in 1975. The estimated cost
is $250,000.
Is it possible to sell nonelection, general obligation bonds for these two
airport programs.
R. N. Russo
-2- July 23, 1974
Would you please help me with these problems
Sincerely,
Gilbert D. Chavenelle
City Manager
Enc,