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Item 3: Resolution on GO Bond for Streets
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Item 3: Resolution on GO Bond for Streets
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6/9/2010 1:07:16 PM
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7/25/2008 9:52:08 AM
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City Council
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Agenda Item Summary
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7/28/2008
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Section 3. <br /> The City Recorder is directed to give not less than ten days’ notice of the City <br />election by publication of one notice in the Register Guard, a newspaper published in the City <br />and of general circulation within the City. <br />Section 4. <br /> If approved by the electors, the proceeds from the sale of the bonds will be <br />used only for costs related to street preservation projects, off-street bicycle and pedestrian path <br />preservation projects and payment of bond issuance costs. The use of bond proceeds for street <br />preservation projects will be limited to projects included in Exhibit A to this Resolution unless <br />upon completion of all the projects listed in Exhibit A to this Resolution the Council adds other <br />street preservation projects to the list in order to utilize unspent bond proceeds. If at least six city <br />councilors determine that one or more of the projects listed in Exhibit A to this Resolution has <br />become impractical to undertake, the project(s) may be removed from the list. The Council may <br />not add projects to, or remove projects from, the list attached as Exhibit A to this Resolution <br />except after January 1, 2018. <br />Section 5. <br /> This Resolution shall become effective immediately upon its adoption. <br />The foregoing Resolution adopted the ____ day of ______________, 2008. <br /> _____________________________________ <br />City Recorder <br />00202754.DOC;1 <br />Resolution - 3 <br />
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