HomeMy WebLinkAboutRes1992-056
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Sponsored by: Schaefermeyer
CITY OF SEWARD, ALASKA
RESOLUTION NO. 92-056
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, PROVIDING FOR THE SUBMISSION TO THE QUALIFIED
VOTERS OF THE CITY THE QUESTION OF THE ISSUANCE OF
$540,000 OF SEWER REVENUE BONDS OF THE CITY TO PAY THE
COSTS OF PLANNING, DESIGNING, CONSTRUCTION AND LAND
ACQUISITION FOR SEWER IMPROVEMENTS IN THE DAIRY HILL
AREA AT THE ELECTION TO BE HELD FOR THAT PURPOSE IN THE
CITY OF SEWARD, ALASKA, ON JUNE 2,1992
WHEREAS, the city of Seward, Alaska, (the "City") is a home rule city and under
Section 11 of Article X of the Alaska Constitution may exercise all legislative powers not
prohibited by law or the Charter of the City, and it has been determined that the matters
set forth in this resolution are not prohibited by law or the Charter; and
WHEREAS, the City intends to authorize the issuance of sewer revenue bonds
(the "Bonds") to finance the costs of planning, designing, construction and land
acquisition for sewer improvements in the Dairy Hill area in the City (the "Project"); and
WHEREAS, the City considers that planning, designing, construction and land
acquisition for the Project and the financing of the same will promote the public purposes
of the City;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF SEWARD, ALASKA, that:
Section 1. It is hereby determined to be for a public purpose and in the public
interest of the city of Seward to incur revenue bonded indebtedness in an amount not
to exceed $540,000 for the purpose of paying the costs of planning, designing,
construction and land acquisition for the Project.
Section 2. The sum of not to exceed $540,000 shall be borrowed by, for and on
behalf of the city of Seward for the Project and shall be evidenced by the issuance of
sewer revenue bonds of the City. Neither the faith and credit nor the taxing power of
the City is pledged for the payment of principal of and interest on the Bonds.
Section 3. An election shall be held on June 2, 1992, in and for the city of Seward,
for the purpose of submitting a sewer revenue bond proposition to the qualified voters
of the City for approval or rejection. The proposition must receive a majority vote of
those in the City voting on the question to be approved. The proposition shall be
substantially in the following form:
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CITY OF SEWARD, ALASKA
RESOLUTION NO. 92-056
PROPOSITION NO.
SEWER REVENUE BONDS
Shall the city of Seward incur debt and issue sewer revenue bonds
not to exceed $540,000 for planning, designing, construction and land
acquisition for sewer improvements within the City? The bonds shall be
payable from revenues of the city sewer utility. Neither the faith and
credit nor the taxing power of the City shall be pledged to pay principal
of or interest on the bonds.
Section 4. The foregoing proposition shall be printed on a ballot which may set
forth other propositions, and the proposition set forth in Section 3 shall be printed in full
and the following words shall be added as appropriate and next to a space provided for
marking the ballot:
PROPOSITION NO.
YES
NO
Section 5. A person may vote at this election who (a) is qualified to vote in state
elections under AS 15.05.010, (b) has been a resident of the City for at least 30 days
immediately preceding the election, (c) is registered to vote in state elections at a
residence address within the City at least 30 days before the election, and (d) is not
disqualified under Article V of the Alaska Constitution. The election shall be conducted
in compliance with the procedures established in Title 4 of the Seward City Code.
Section 6. A copy of this resolution shall be posted on the City Hall bulletin board
within a reasonable time after its enactment.
Section 7. This resolution shall take effect immediately upon its adoption.
PASSED AND APPROVED by the City Council of the city of Seward, Alaska, this
27th day of April, 1992.
~ OF SEW~D, ALASKA
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(ty1-!tJ.!.tl'l-'/-' L;';/J,?-?
Donald W. Cripps, Mayor
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CITY OF SEWARD, ALASKA
RESOLUTION NO. 92-056
AYES:
NOES:
ABSENT:
ABSTAIN:
ATTEST:
Crane, Cripps, Krasnansky, Swartz, White
Bencardino
Dunham
None
APPROVED AS TO FORM:
Perkins Coie, Attorneys for the city of
Seward, Alaska
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(City Seal)
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Fred B. Arvidson
City Attorney