Title
Resolution Regarding Notice of Intent to Issue General Obligation Capital Improvement Bonds to Fund Construction of a Courthouse and Police Facility ($31,000,000.00)
Memorandum
Recommended for Council is the publication of a notice of intent to issue general obligation capital improvement bonds in the maximum principal amount of $31,000,000, for the purpose of financing the construction of a courthouse and police facility. The Bonds are secured as a general obligation of the City.
The City’s bond counsel, Dykema Gossett, prepared the notice with further review by the City Attorney.
Staff
Prepared by: Tom Crawford, Chief Financial Officer
Reviewed by: Mary Joan Fales, Senior Assistant City Attorney
Body
CITY OF ANN ARBOR
County of Washtenaw, State of Michigan
__________________________________
RESOLUTION AUTHORIZING PUBLICATION
OF NOTICE OF INTENT TO ISSUE GENERAL OBLIGATION
CAPITAL IMPROVEMENT BONDS
(Courthouse / Police Facility Bonds)
Minutes of a regular meeting of the City Council of the City of Ann Arbor, County of Washtenaw, State of Michigan held on Monday, April 7, 2008, at 7:00 o’clock p.m. Eastern Daylight Time.
PRESENT: Members
ABSENT: Members
The following preamble and resolution were offered by Member and supported by Member :
WHEREAS, the City of Ann Arbor, County of Washtenaw, State of Michigan (the “City”) intends to issue and sell general obligation capital improvement bonds, pursuant to the Revised Municipal Finance Act, Act 34, Public Acts of Michigan, 2001, as amended (“Act 34”), in one or more series in an aggregate principal amount not to exceed Thirty-One Million Dollars ($31,000,000) (the “Bonds”) for the purpose of paying part of the costs of acquiring and constructing an approximately 103,000 square foot multi-story building to be annexed to the existing Ann Arbor City Hall to house court and police facilities and operations of the City, and for related capital improvements on such site, includ...
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