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RES 12-04
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RES 12-04
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1/19/2012 9:53:20 AM
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City Government
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RES
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1/17/2012
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under the Act, the Cit is re uired to hold a ublic hearin on the lan and issuance of the bonds. <br />Y q p g P <br />1.03. Pursuant to the Act, the City has caused to be prepared a five year capital <br />improvement Plan (the "Plan"), which describes certain capital improvements in the City for the <br />years 2012 through 2016. <br />1.04. The City has determined that it is in its best interests to give preliminary approval <br />to the issuance and sale of capital improvement bonds pursuant to the Act in a principal amount <br />not to exceed $7,300,000 (the "Bonds"), to finance a portion of the costs described in the Plan. <br />1.05. On this date, the Council held a public hearing on the Plan and the issuance of the <br />Bonds, after publication in the City's official newspaper of a notice of public hearing at least 14 <br />days but. no more than 28 days before the date of the public hearing. <br />Section 2. Plan Ap rp oved• <br />2.01. The Council finds that the Plan will provide for certain capital improvements, <br />which serves the interests of the City as a whole. <br />2.02. The Plan is approved in the form on file in City Hall. <br />Section 3. Bonds Authorized. • <br />3.01. The City hereby gives preliminary approval to the issuance of Bonds in a <br />principal amount not to exceed $7,300,000, in order to finance certain capital improvements <br />described in the Plan, including costs of issuance of the Bonds, subject to further details <br />regarding the sale of the Bonds to be set forth in a resolution to be considered by the City <br />Council at a meeting to be held not less than 30 days from the date hereof. <br />3.02. City staff are authorized and directed to take all other actions necessary to carry <br />out the intent of this resolution. <br /> <br />396424v2 JSB EL185-IS 2 <br />
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