HomeMy WebLinkAboutCity Council Resolution 00-059RESOLUTION NO.0 0 - 0 5 9
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SARATOGA
EXPRESSING OFFICIAL INTENT REGARDING CERTAIN CAPITAL
EXPENDITURES TO BE REIMBURSED FROM PROCEEDS OF THE LIBRARY
GENERAL OBLIGATION BOND
WHEREAS, the City is proceeding with the improvement, renovation and expansion of the
Saratoga Community Library; and
WHEREAS, all or a portion of the expenditures relating to the Library project have been paid
after the passage or within sixty days prior to the passage of this resolution; and
WHEREAS, the City reasonably expects to reimburse itself of the expenditures with the
proceeds of the General Obligation Bonds approved for this project, and
NOW, THEREFORE, the City Council of the City of Saratoga hereby resolves as follows:
Section 1. The City reasonably expects to reimburse the expenditures with the proceeds of the
General Obligation Bonds approved for this project.
Section 2. The maximum principal amount of the obligations expected to be issued for the
project is $15,000,000.
Section 3. All actions of the officers, agents and employees of the City that are in conformity
with the purposes and intent of this Resolution, whether taken before or after the adoption hereof,
are hereby ratified, confirmed and adopted.
Section 4. This Resolution shall be in full force and effect immediately upon its adoption.
The above and foregoing resolution was passed and adopted at a regular meeting of the Saratoga
City Council held on the 15th day of November, 2000, by the following vote:
AYES' Evan Baker, John_ M~haffDy, Nick Streit, Ann WaltonSmtih
NOES' ~oa~r Stan Bogosian
ABSENT: None
ABSTAIN:None
S~an Bogosian, Mayor
r'ATTES~:'-' '-
CouncilRpt 3