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.,-„, <br /> .),, <br /> „,. <br /> Council Member / �� �I introduced the following <br /> esol ion and oved it option. Council Member <br /> 04 seconded the motion to adopt. The roll was <br /> called and the vote was: <br /> AYES: <br /> &.e a Imo., € &fWaLt2 . <br /> NAYS: rQ114,... ad ► • <br /> Whereupon the Mayor declared the A following Resolution duly <br /> adopted: R , JJesatLeh'o •. "iJI J <br /> RESOLUTION DIRECTING THE SALE AND <br /> DELIVERY OF $1,280,000.00 GENERAL OBLIGATION <br /> BOND & GRANT ANTICIPATION PROJECT NOTES, <br /> SERIES 1986, FOR PAYMENT OF PROJECT COSTS <br /> OF THE CONSTRUCTION OF CERTAIN 1986/1987 <br /> CAPITAL IMPROVEMENT PROJECTS FOR THE CITY <br /> WHEREAS t e City Council of the City of Clive, Iowa, <br /> adopted on 1 , 1986, a resolution entitled <br /> "RESOLUTION UTH RIZING THE ISSUANCE OF $1,280,000.00 GENERAL <br /> OBLIGATION BOND & GRANT ANTICIPATION PROJECT NOTES ", the pro- <br /> ceeds of which will be used to pay costs incurred for <br /> constructing certain permanent street improvements in said <br /> City, including grading work; improvements and extensions to <br /> the Municipal Sanitary and Storm Sewer Systems of said City; <br /> improvements and extensions to the Municipal Water Utility of <br /> said City; and improvements and additions to the Municipal <br /> Bridge System of said City; and <br /> WHEREAS, said City Council has determined that it is now in <br /> need of $1,280,000.00 General Obligation Bond & Grant <br /> Anticipation Project Notes in order to pay project costs as <br /> above described; and <br /> WHEREAS, it was provided in the resolution authorizing the <br /> issuance of the Project Notes that they shall be dated June 15, <br /> 1986, be in the denominations and bear interest at such rate as <br /> shall be determined by resolution of this Governing Body, and <br /> shall be consecutively numbered from one; and <br /> WHEREAS, the Council has now arranged for the sale of the <br /> $1,280,000.00 authorized amount of said Project Notes to E. F. <br /> Hutton & Company Inc. of Des Moines, Iowa, which Notes will be <br /> paid at a later date from a combination of any or all of the <br /> following sources: (1) from the proceeds to be received from <br /> the sale of General Obligation Bonds of said City, (2) from the <br /> proceeds to be received from a Federal Grant and /or Grants, <br /> and /or (3) from such other cash funds of said City as may be <br /> available at that time: <br /> - 22 - <br /> Ahlers, Cooney, Dorweiler, Haynie, Smith & Allbee, lawyers, Des Moines, Iowa <br /> II <br />