06/10/2014 Resolutions 2014-162 RESOLUTION 2014-162
WHEREAS;the City Council adopted Resolution 2013-150 on May 14,2013,which
declared the City's official intent to issue bonds in a maximum principal amount of$60,000,000 to
finance Sanitary Sewer Collection System and Wastewater Treatment Plant Improvements; and
WHEREAS; the Mayor and Council of the City of Grand Island hereby find and
determine that it is necessary and appropriate to modify the official intent made in Resolution 2013-
150 with respect to the principal amount of debt expected to be issued the City and the City's
expectations to reimburse certain expenditures with the proceeds of such debt as proposed; 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 shall modify
and not be in addition to the statement made in Resolution 2013-150, and for such purposes the
following information is hereby given:
1. A general functional description of the projects for which expenditures may be
made and reimbursement from debt proceeds provided is as follows:
Sanitary Sewer Collection System and Wastewater Treatment Plant
Improvements
2. The maximum principal amount of debt expected to be issued for such projects is
$74,275,000, which debt is expected to include up to $40,000,000 in principal
amount of loan funds from the Clean Water State Revolving Loan Fund program
administered by the Nebraska Department of Environmental Quality.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF THE
CITY OF GRAND ISLAND,NEBRASKA,that the declaration of intent to issue debt to reimburse
expenses resulting from the Wastewater Capital Improvements is hereby approved.
Adopted by the City Council of the City of Grand Island, Nebraska, June 10 2014.
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ay avri c'ek, ayor
Attest:
a .
RaNae Edwards, City Clerk
Approved as to Form
9,2014 4a4orney