HomeMy WebLinkAboutRes1984-047
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CITY OF SEWARD, ALASKA
RESOLUTION NO. 84-47
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SEWARD, ALASKA, AMENDING A RESOLUTION DETERMINING
TO SELL REVENUE BONDS TO PROVIDE FOR FUNDS TO FINANCE
CERTAIN FACILITIES WITHIN THE CITY
WHEREAS, the City has heretofore adopted its Resolution No.
83-46 under which it has determined to issue and sell its Revenue bonds,
in a principal amount sufficient to pay the cost of financing all or a
portion of the project identified in Exhibit "A" to said Resolution in
the estimated amount of $10,000,000 for Suneel Alaska Corporation, an
Alaska corporation; and
WHEREAS, said Resolution is adopted to comply with the pro-
visions of Treasury Regulations Section 1.103-8 (a) (5) adopted under
Section 103 of the Internal Revenue Code, as amended, which requires
that the issuer of Bonds in order for the interest on the Bonds to be
exempt from Federal income tax adopt a bond resolution with respect to
the Bonds or take some other similar official action towards the issu-
ance of such Bonds prior to the commencement of construction or acquisi-
tion of the facilities which constitute the project to be financed by
the Bonds; and
WHEREAS, it now appears that the costs of the proj ect may
exceed $10,000,000;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF SEWARD, ALASKA, that:
Section 1. Exhibit"A" of Resolution No. 83-46 entitled "A
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD, ALASKA, DETERMIN-
ING TO SELL REVENUE BONDS TO PROVIDE FUNDS TO FINANCE CERTAIN FACILITIES
WITHIN THE CITY" is amended by deleting the amount of "$10,000,000"
therefrom by inserting in lieu thereof "$15,000,000".
Section 2. This resolution shall take effect immediately upon
its adoption.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, this 29th day of May , 19 84
O~~MAS~
DONALD W. CRIPPS, MAYOR
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CITY OF SEWARD, ALASKA
RESOLUTION NO. 84-47
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Cripps, Gillespie, Meehan, Swartz, Williams
None
Hil ton, Wilson
None
AYES:
NOES:
ABSENT:
ABSTAIN:
ATTEST:
APPROVED AS TO FORM:
HUGHES, THORSNESS, GANTZ, POWELL
AND BRUNDIN, At torneys for the
City of Seward, Alaska
7~fl/~
Fred B. Arvidson, City Attorney
(City Seal)
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