06/12/2001 Resolutions 2001-152
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RES 0 L UTI 0 N 2001-152
WHEREAS, on May 22, 2001, the Mayor and City Council of the City of Grand
Island have approved and adopted Ordinance No. 8677 which is supplemented and amended by
Ordinance No. 8677A providing for issuance of Electric System Revenue Bonds, Series 2001; and
WHEREAS, said ordinances authorized insuring said bonds based upon prudent
financial considerations; and
WHEREAS, a decision has been made that said bonds should be insured and a
commitment to issue a Financial Guaranty Insurance Policy has been provided and approved by
MBIA Insurance Corporation; and
WHEREAS, the commitment has been reviewed and approved by the City's fiscal
agent, bond underwriter, bond counsel and the City Attorney.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF
THE CITY OF GRAND ISLAND, NEBRASKA, that the Commitment to Issue a Financial Guaranty
Insurance Policy of MBIA Insurance Corporation is hereby approved; and the Mayor is hereby
authorized to execute all documents in connection with said insurance.
Adopted by the City Council ofthe City of Grand Island, Nebraska on June 12, 2001.
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RaNae Edwards, City Clerk
Approved as to Form T C ..g-O'
June 8, 2001 ... City Attorney