Section 101-040 Res. 14-00; Declaring the City's Intent to Make Capital Expenditures for a Community Recreation Center, New Fire Station and Equipment, and Certain Parks and Recreation Projects to be Reimbursed by the Sale of Bonds

Council Bill No.          R 14-00          


declaring the City’s intent to make capital expenditures for a community recreation center, new fire station and equipment, and certain parks and recreation projects to be reimbursed by the sale of bonds.

    SECTION 1.  The City expects to make capital expenditures on and after date of adoption of this resolution in connection with the construction of a community recreation center ($10,500,000), new fire station and equipment ($5,500,000) and parks and greenbelt ($3,000,000).  The City intends to reimburse itself for such expenditures with the proceeds of bonds or other obligations to be issued by the City.  The maximum principal amount of bonds or other obligations to be issued for these projects is $19,000,000.