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Sponsored by: Oates <br /> iro <br /> CITY OF SEWARD, ALASKA <br /> RESOLUTION 2010 -070 <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD, <br /> ALASKA SUPPORTINGTHE SEWARD COMMUNITY LIBRARY MUSEUM <br /> PROJECT, AUTHORIZING THE CITY MANAGER TO SUBMIT A TIER 2 <br /> FULL PROPOSAL TO RASMUSON FOUNDATION REQUESTING NOT <br /> MORE THAN $1.5M, AND ACKNOWLEDGING THE INTENT TO BOND IN <br /> AN AMOUNT NOT TO EXCEED $2.5M FOR THE CONSTRUCTION OF <br /> THE SEWARD COMMUNITY LIBRARY MUSEUM <br /> WHEREAS, the City of Seward and the Seward Community Library Building Committee, <br /> with continued support of the Council, have been working to raise funds to build a new facility to <br /> house the library and the museum; and <br /> WHEREAS, on May 21, 2010 the City of Seward received an invitation from Rasmuson <br /> Foundation to submit a full proposal; and <br /> WHEREAS, in November of 2009 the City of Seward submitted a Letter of Inquiry to <br /> Rasmuson Foundation, a prerequisite to submitting a full proposal for Rasmuson Foundation's Tier 2 <br /> Grant Program; and <br /> WHEREAS, on May 21, 2010 the City of Seward received an invitation to submit a full <br /> proposal; and <br /> WHEREAS, the proposed funding plan includes $4.7M secured from the State of Alaska, <br /> $2.6M in grant applications and foundation awards (NEH, Rasmuson etc.), up to $2.5M in City of <br /> Seward General Obligation Bond funding, and $500,000 in capital campaign contributions totaling <br /> $10.3M; and <br /> WHEREAS, the proposal requires a resolution of support from Council and a description of <br /> the level of funding commitment from the community for the project; and <br /> WHEREAS, the Seward City Council desires to signify its intent to issue general obligation <br /> bonds in an amount not to exceed $2.5 million for the purpose of planning, designing, constructing, <br /> and equipping a new library/museum building, subject to identification of an appropriate source of <br /> revenue for bond repayment, and subject to approval by the Alaska Municipal Bond Bank; and <br /> WHEREAS, the request to Rasmuson will be for not more than $1.5M; and <br />