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HomeMy WebLinkAboutOrdinance 1455 ORDINANCE NO. 1455 ORDINANCE PROVIDING FOR THE ISSUANCE AND SALE OF APPROXIMATELY $3,900,000 GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 2003 THE CITY OF COLUMBIA HEIGHTS DOES ORDAIN: 1. It is hereby determined that: (a) the following assessable public-improvements (the Improvements) have been made, duly ordered or contracts let for the construction thereof, by the City pursuant to the provisions of Minnesota Statutes, Chapter 429 (Act); Zone 5, Zone 6A, Zone 6B and Zone 7 Street Improvements; and Central Avenue Improvements Co) it is necessary and expedient to the sound financial management of the affairs of the City to issue General Obligation Improvement Bonds Series 2003 (Bonds) in a principal mount not to exceed $3,900,000 pursuant to the Act to provide financing for the Improvements. 2. Ehlers & Associates is authorized to negotiate the sale of the Bonds in the maximum principal amount specified in Section 1, in accordance with terms of proposal approved by the City Finance Director. The City Council will meet on Monday, April 28, 2003 or such other date specified by the City Manager in accordance with the City Charter, to consider the sale of the Bonds and take any other appropriate action with respect to the Bonds. o its passage. This ordinance shall be in full force and effect fi:om and after thirty (30) days after First Reading: Second Reading: March 10, 2003 March 24, 2003 Offered By: Seconded By: Roll Call: Williams Ericson Ayes: Wyckoff, Williams, Nawrocki, Ericson, Kelzenberg Date of Passage: March 24, 2003 ~'atricia Muscovitz, Deputy q~lerk Attest: William Elrite, City Clerk-Treasurer ~ayor Julienne Wyckoff-{) (/L}