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Council Minutes of 3/20/2001
<br />issue of various purpose bonds, Series 1992, dated as of December 1, 1992, to pay costs
<br />of improving certain designated streets in the city's street system by grading, draining,
<br />curbing, reconstructing the pavement base, widening, preparing the surface and paving,
<br />by reconstructing and rehabilitating storm sewers, sanitary sewers and water mains, by
<br />constructing and reconstructing curbs, sidewalks and driveway aprons, and by installing
<br />underground and above-ground wires and cables for street lighting, all where necessary,
<br />together with the necessary appurtenances and work incidental thereto; authorizing and
<br />directing the call for optional redemption on December 15, 2002 of all of the refunded
<br />bonds; authorizing the execution and delivery of a bond registrar agreement and a bond
<br />purchase agreement with respect to the refunding bonds and an escrow agreement with
<br />respect to the advance refunding of refunded bonds, and declaring an emergency.
<br />Councilman McKay moved for suspension of the rule requiring three readings; second by
<br />Councilman O'Grady; motion passed unanimously. Councilman McKay moved for
<br />adoption; second by Councilman O'Grady; motion passed unanimously. Ordinance
<br />No. 2001-34 adopted.
<br />Ordinance No. 2001-35 introduced by Councilman McKay was given its second reading.
<br />An ordinance providing for the issuance and sale of bonds in the maximum aggregate
<br />principal amount $1,985,000 for the purpose of advance refunding at a lower interest cost
<br />the $1,796,500 of outstanding street improvement bonds, Series 1992B, that are stated to
<br />mature on December 15, 2012 and were issued as a part of the consolidated issue of
<br />various purpose bonds, Series 1992, dated as of December 1, 1992, to pay costs of
<br />improving certain designated streets in the city's street system by grading, draining,
<br />cuing, reconstructing the pavement base, widening, preparing the surface and paving,
<br />by constructing, reconstructing and rehabilitating storm sewers, sanitary sewers and water
<br />mains, by reconstructing curbs, sidewalks and driveway aprons, by acquiring and
<br />installing signals, signs and other equipment and devices to direct and control traffic and
<br />by installing underground wires and cables for street lighting, all where necessary,
<br />together with the necessary appurtenances and work incidental thereto; authorizing and
<br />directing the call for optional redemption on December 15, 2002 of all of the refunded
<br />bonds; authorizing the execution and delivery of a bond registrar agreement and a bond
<br />purchase agreement with respect to the refiinding bonds and an escrow agreement with
<br />respect to the advance refunding of refunded bonds, and declaring an emergency.
<br />Councilman McKay moved for suspension of the rule requiring three readings; second by
<br />Councilman Limpert; motion passed unanimously. Councilman McKay moved for
<br />adoption; second by Councilman Limpert; motion passed unanimously. Ordinance
<br />No. 2001-35 adopted.
<br />Ordinance No. 2001-36 introduced by Councilman McKay was given its second reading.
<br />An ordinance providing for the issuance and sale of bonds in the maximum aggregate
<br />principal amount $1,313,000 for the purpose of advance refunding at a lower interest cost
<br />the $1,192,000 of outstanding street improvement bonds, Series 199X, that are stated to
<br />mature on December 15, 2012 and were issued as a part of the consolidated issue of
<br />various purpose bonds, Series 1992, dated as of December 1, 1992, to pay costs of
<br />improving Silverdale Road, Selhurst Road and Duane Road by grading, draining,
<br />curbing, reconstructing the pavement base, widening, preparing the surface and paving
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