Number
201259
Version
Substitute 1
Reference
991863, 021776, 100863
Sponsor
The Chair
Title
Substitute resolution authorizing the sale and issuance of up to $150,000,000 Sewerage System Capital Improvement and Refunding Revenue Bonds. (Comptroller)
Analysis
This resolution authorizes and provides for the sale by the City of a series of Sewerage System Revenue Bonds in the principal amount not to exceed $150,000,000 for refunding and financing the costs of improvements to the City’s Sewerage System; prescribing certain details of such bonds; and certain other matters related thereto.
Body
Whereas, In interpreting the terms of this Series 2021 Resolution (hereinafter defined), all terms which are defined in Section 1.01 of the Resolution (hereinafter defined) shall have the same meanings, respectively, in this Series 2021 Resolution as such terms are given in said Section 1.01 of the Resolution. “Resolution” means Common Council Resolution File No. 991863 adopted by the Common Council on August 2, 2001, as amended; and
Whereas, The Resolution provides the authority (when utilized in conjunction with separate “Series” resolutions) for the issuance of Sewerage System Revenue Bonds to be payable from the revenues of the Sewerage System; and
Whereas, It is hereby found and determined that it is necessary and required that the City authorize and issue at this time a series of bonds to provide money for the improvement of any plant and equipment in the City’s Sewerage System, within or without the corporate limits of the City, for the collection, transportation, pumping, storage, treatment and disposal of sewage or storm water and surface water, including necessary lateral, main and interception sewers of the City; and
Whereas, It is hereby found and determined that it is necessary and required that the City authorize and issue at this time a series of bonds to provide money for the refunding of outstanding Sewerage System Revenue Bonds of the City;...
Click here for full text