HomeMy WebLinkAboutRES.995.10-10-1994 BILL NO. 9 4—2 70 RESOLUTION NO. �Y `;._:�'
RESOLUTION CONDITIONALLY AUTHORIZING THE
OFFERING FOR SALE OF SEWERAGE SYSTEM REVENUE
BONDS OF THE CITY OF CAPE GIRARDEAU, MISSOURI.
WHEREAS, on April 5, 1994, the voters of the City of Cape Girardeau, Missouri (the "City")
authorized the issuance of$25,000,000 principal amount of sewerage system revenue bonds of the City
(the "Bonds"); and
WHEREAS, it is the City's desire to issue the Bonds through the Missouri Leveraged State
Revolving Fund Program(the "Program"), which provides low-interest loans to municipalities to finance
wastewater projects;
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY IF CAPE
GIRARDEAU, MISSOURI, AS FOLLOWS:
Section 1. The Council hereby authorizes the City to offer not to exceed $25,000,000 aggregate
principal amount of the Bonds for sale at such interest rates and upon such terms and conditions as shall
be acceptable to the Council; provided, that such authorization is expressly conditioned on the passage
on November 8, 1994, of the proposed amendment to Article X, Sections 16 through 22 of the Missouri
Constitution(commonly referred to as the "Hancock II Amendment") and the final approval of the interest
rates and terms and conditions by the Council.
Section 2. The Council further authorizes the City Manager, the Finance Director and other
representatives of the City to prepare a Preliminary Official Statement or such other disclosure documents
as them deem necessary relating to the offering for sale of the Bonds. The Council hereby consents to
the use and public distribution of the Preliminary Official Statement or other disclosure documents in
connection with the offering for sale of the Bonds.
Section 3. The City Manager, the Finance Director and other officers and representatives of the
City are hereby authorized and directed to take such other action as may be necessary to carry out the
offering for sale of the Bonds in the event the Hancock II Amendment passes.
Section 4. This Resolution shall be in full force and effect from and after its passage by the
Council.
PASSED BY THE COUNCIL OF THE CITY OF CAPE GIRARDEAU, MISSOURI, TffiS
/C'�iDAY OF��EMBER, 1994.
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(SEAL) '
Mayor
ATTEST:
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Deputy 'ty Clerk
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