02/26/2008 Resolutions 2008-77RESOLUTION 2008-77
WHEREAS, the Mayor and the City Council of the City of Grand Island hereby find
and determine that it is necessary and appropriate to declare their official intent to issue tax-exempt
bonds on behalf of the City; and; and
WHEREAS, the City's reasonable expectations to reimburse certain expenditures
with the proceeds of such bonds as proposed to be issued by the City in connection with the
proposed project as described below; and
WHEREAS, this resolution shall stand as a statement of the City's official intent
under Regulation Section 1.150-2 of the regulations of the United States Treasury and for such
purpose the following information is hereby given:
1. A general functional description of the prof ect for which expenditures maybe
made and reimbursement from bond proceeds provided is as follows:
Certain capital improvements to the City's Electric System, including
improvements related to and necessary for compliance with the Federal
Government mercury related regulations and other costs related thereto.
2. The maximum principal amount of debt expected to be issued for such project
is Twenty Five Million Dollars ($25,000,000.00).
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF
THE CITY OF GRAND ISLAND, NEBRASKA, that the intent to finance Mercury Emissions
Control Project at the Platte Generating Station with tax exempt issued bonds is hereby approved.
Adopted by the City Council of the City of Grand Island, Nebraska, February 26, 2008.
Margaret Hornady, Mayor
Attest:
RaNae Edwards, City Clerk
Resolution #2008-77 was pulled from the February 26, 2008 City Council
agenda at the request of the IItilities Department.
Approved as to Form c ~~
February 25, 2008 c City Attorney