Bond Sale to Support Additional Airport T-Hangars
,)
.
.
.
.'
The Council then considered the proposed action and the extent of objections
thereto.
Whereupon, Council Member Robbi ns introduced and delivered to
the Clerk the Resolution hereinafter set out entitled "RESOLUTION INSTITUTING
PROCEEDINGS TO TAKE ADDITIONAL ACTION FOR THE ISSUANCE OF NOT
TO EXCEED $690,000 GENERAL OBLIGATION BONDS", and moved:
ID that the Resolution be adopted.
D to ADJOURN and defer action on the Resolution and the proposal to
institute proceedings for the issuance of Bonds to the meeting to be held at
o'clock .M. on the day of
2000, at this place.
Council Member C 1 i ne
called and the vote was,
seconded the motion. The roll was
AYES: Buol, Cline, ~1arkham, Michalski, Nicholosn, Robbins
NAYS: None
Whereupon, the Mayor declared the measure duly adopted.
RESOLUTION No. 473-00
RESOLUTION INSTITUTING PROCEEDINGS TO TAKE
ADDITIONAL ACTION FOR THE ISSUANCE OF NOT
TO EXCEED $690,000 GENERAL OBLIGATION BONDS
WHEREAS, pursuant to notice published as required by law, this Council has
held a public meeting and hearing upon the proposal to institute proceedings for the
issuance of not to exceed $690,000 General Obligation Bonds for the essential corporate
purpose of paying costs of construction of improvements at the Dubuque Regional
Airport, including those costs associated with the rehabilitation and improvement of
existing T-hangar airplane facilities and the construction of new T-hangar airplane
facilities, and has considered the extent of objections received from residents or property
-3-
.
.
.
t
owners as to said proposed issuance of Bonds; and, accordingly the following action is
now considered to be in the best interests of the City and residents thereof:
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF DUBUQUE, IOWA:
Section 1. That this Council does hereby institute proceedings and takes
additional action for the sale and issuance in the manner required by law of not to exceed
$690,000 General Obligation Bonds for the foregoing essential corporate purpose.
Section 2. That this Resolution be and does hereby serve as a declaration of
official intent under Treasury Regulation 1.150-2, because the City reasonably expects to
reimburse with the proceeds of the Bonds, all or a portion of original expenditures
incurred in connection with the above purpose.
Section 3. The City Manager is authorized and directed to proceed on behalf of
the City with the sale of said Bonds, to select a date for the sale thereof, to cause to be
prepared such notice and sale information as may appear appropriate, to publish and
distribute the same on behalf of the City and this Council and otherwise to take all action
necessary to permit the sale of said Bonds on a basis favorable to the City and acceptable
to the Council.
PASSED AND APPROVED this
2nd day of October
2000.
~ 'i"LIkP-c~
May r Pro-Tern
A TrEST:
---;~-
,~~~-'
City Clerk
~/) )
.~/('~
-4-