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•• Y <br /> The Council then considered the proposed action and the <br /> extent of objections thereto. <br /> Whereupon, Council Member <br /> introduced and <br /> out <br /> delivered the rINSTITUTING <br /> entntitlled d "RESOLUTION <br /> ACTION FOR THE ISSUANCE OF NOT TO EXCEED $1,750,000.00 GENERAL <br /> OBLIGATION BONDS ", and moved: <br /> that the Resolution be adopted. <br /> 1 <br /> 0 to ADJOURN and defer action on the Resolution and the <br /> proposal to institute proceedings for the slance of <br /> bonds to the meeting to <br /> of be held at o' <br /> at <br /> .M. on the � <br /> this place. <br /> Council Member ,, se/. conded 1 the motion. <br /> The roll was called and the vote was, , <br /> AYES: i.! l tig /_ 7 - // �.� <br /> l � 7> 11 L.,t.l� . /! / ,- <br /> II NAYS: • - as a . %.. r lf1t� . <br /> Whereupon, the Mayor declared the measure dul ado t d. ‘EL N2— <br /> RESOLUTION INSTITUTING PROCEEDINGS TO <br /> O F K NO TDT O T E O XCEED $110750,000.00 GENERALISSUANCE <br /> O <br /> OBLIGATION BONDS <br /> WHEREA purs t o noti published as required by law, <br /> this Council has held a public meeting and hearing upon the <br /> proposal to institute proceedings for the issuance of <br /> not to exceed $1,750,000.00 General Obligation Bondstfortihe <br /> essential corporate purposes of paying costs including <br /> certain permanent street improvements in said City, l <br /> grading work; improvements and extensions to the and <br /> Sanitary and Storm Sewer Systems of said Ci improve; and <br /> extensions to the Municipal Water Utility ai e stem of <br /> s doCy. and ronthlObligation Bonds Bonds <br /> said City. The proceeds of the General <br /> may be applied to pay pro costs directly and /or to pay <br /> interim Project Notes which the City will issue, pursuant to <br /> Iowa Code Section 76.13, in the approximate amount of <br /> $1,750,000.00, in anticipation <br /> and /or bond proceeds applicable to <br /> purposes. The Council has consdreownerseaseto saidbproposed <br /> received from residents or property the following action is now <br /> issuance of bo and, accordingly and rei <br /> considered to be in the best interests of the City <br /> • dents thereof: - 3 - <br /> Ahlers. Cooney, Dorweiler, Haynie, Smith & Allbee, lawyers. Des Moines, Iowa <br />