07/28/2015 Resolutions 2015-203 RESOLUTION 2015-203
WHEREAS, the City Council adopted Resolution No. 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,on June 10,2014 by Resolution No.2014-162 City Council modified the
official intent made in Resolution No. 2013-150 with respect to the principal amount of debt
expected to be issued to a maximum amount of$74,275,000,which debt is expected to include up to
$40,000,000 in principal amount of loan funds faun the Clean Water State Revolving Loan Fund
program administered by the Nebraska Department of Environmental Quality; and
WHEREAS,the Mayor and City 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 No.
2013-150 further, to include Westwood Park Residential Subdivision and Lift Station No. 20
Forcemain rehabilitation in the remainder of the Clean Water State Revolving Loan Fund Program
administered by the Nebraska Department of Environmental Quality; 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 No.'s 2013-150 nor 2014-162, 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
® Westwood Park Residential Subdivision and Lift Station No. 20 Forcemain
rehabilitation.
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 form 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.
Approved as to Form ° .,;�,_
July 27,2015 ° City Morney
Adopted by the City Council of the City of Grand Island, Nebraska, July 28, 2015.
y rem L.
sthi, Mayor
Attest:
Or)p 0.0_. tz• •-
RaNae Edwards, City Clerk
- 2 -