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Special Council Minutes of 2!16/2006
<br />$470,000 of outstanding storm water drainage system improvement bonds, series 1996A,
<br />and the $95,000 of outstanding storm water drainage system improvement bonds, series
<br />1996B that were issued as a part of a consolidated issue of various purpose improvement
<br />bonds, series 1996, dated as of November 15, 1996, for the purpose of improving the
<br />city's storm water drainage system by constructing, reconstructing, rehabilitating and
<br />otherwise improving storm sewers, culverts, retention basins and other storm water
<br />drainage facilities, together with the necessary appurtenances and work incidental thereto,
<br />and are stated to mature on December 1, 2016; authorizing and directing the call for
<br />optional redemption on December 1, 2007 of all of the refunded bonds; and authorizing
<br />the execution and delivery of a bond registrar agreement and a bond purchase agreement
<br />with respect to the refunding bonds and an escrow agreement with respect to the
<br />refunding of refunded bonds.
<br />Ordinance No. 2006-26 introduced by Mayor O'Grady was given its second reading. An
<br />ordinance providing for the issuance and sale of bonds in the maximum aggregate principal
<br />amount $80,000 for the purpose of refunding at a lower interest cost the $75,000 of
<br />outstanding Police Station improvement bonds, series 1996, that were issued as a part of
<br />a consolidated issue of various purpose improvement bonds, series 1996, dated as of
<br />November 15, 1996, for the purpose of constructing, furnishing, equipping and otherwise
<br />improving an addition to the city's Police Station and preparing and improving the site
<br />thereof and are stated to mature on December 1, 2016; authorizing and directing the call
<br />for optional redemption on December 1, 2007 of all of the refunded bonds; and
<br />authorizing the execution and delivery of a bond registrar agreement and a bond purchase
<br />agreement with respect to the refunding bonds and an escrow agreement with respect to
<br />the refunding of refunded bonds.
<br />Ordinance No. 2006-27 introduced by Mayor O'Grady was given its second reading. An
<br />ordinance providing for the issuance and sale of bonds in the maximum aggregate principal
<br />amount $640,000 for the purpose of refunding at a lower interest cost the $590,000 of
<br />outstanding Recreation Center improvement bonds, series 2000, that were issued as a part
<br />of a consolidated issue of various purpose improvement bonds, series 2000, dated as of
<br />September 1, 2000, for the purpose of improving the city's park and recreational facilities
<br />by remodeling, renovating, rehabilitating and otherwise improving the Recreation Center
<br />and are stated to mature on December 1, 2020; authorizing and directing the call for
<br />optional redemption on December 1, 2010 of all of the refunded bonds; and authorizing
<br />the execution and delivery of a bond registrar agreement and a bond purchase agreement
<br />with respect to the refunding bonds and an escrow agreement with respect to the
<br />refunding of refunded bonds.
<br />Ordinance No. 2006-28 introduced by Mayor O'Grady was given its second reading. An
<br />ordinance providing for the issuance and sale of bonds in the maximum aggregate principal
<br />amount $605,000 for the purpose of refunding at a lower interest cost the $560,000 of
<br />outstanding sanitary sewerage system improvement bonds, series 2000, that were issued
<br />as a part of a consolidated issue of various purpose improvement bonds, series 2000,
<br />dated as of September 1, 2000, for the purpose of improving the city's sanitary sewerage
<br />system by constructing sanitary sewers, force mains and pumping facilities and by
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