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HomeMy WebLinkAboutResolution 95-81 11/20/1995 ~'''c_.l . . . CITY OF SPRINGFIELD LANE COUNTY STATE OF OREGON RESOLUTION No. 95- 81 A RESOLUTION SETTING FORTH THE OFFICIAL INTENT OF THE CITY TO REIMBURSE CERTAIN CAPITAL EXPENDITURES OUT OF THE PROCEEDS OF OBLIGATIONS TO BE ISSUED IN CONNECTION WITH THE ACQUISITION, CONSTRUCTION AND INSTALLATION OF VARIOUS CAPITAL PROJECTS. .. Recitals: WHEREAS, on November 7, 1995, the electors of the City of Springfield (the "City") authorized the City to issue its general obligation bonds in an amount not to exceed the principal sum of $12,700,000 (the "Bonds") in order to finance the acquisition, construction and installation of the capital projects listed on Exhibit A attached to this Resolution (collectively, the "Projects"); and . WHEREAS, the City has incurred, or will incur in the future, preliminary expenditures relating to the design, planning and feasibility of the Projects, all within the meaning of Treasury Regulations S 1.150-2, and will continue to incur from time to time additional costs of acquiring, constructing and installing the Projects (such preliminary expenditures together with such other costs of the Projects incurred and paid prior to the issuance of the Bonds being herein collectively called the "Pre-Issuance Expenditures"), which Pre-Issuance Expenditures, in accordance with the budget for the Projects and the City's operating budget, will ultimately be financed out of the proceeds of the Bonds as and when such Bonds are issued; and WHEREAS, pending the issuance of, and the availability of the proceeds derived from the issuance and sale of, the Bonds, the Pre-Issuance Expenditures have been and will be paid on an interim basis out of moneys which, in accordance with the City budget and budgetary practices, are not and will not be available on a long-term basis to pay such costs (the "Advances"), with the expectation and intent that the City will be reimbursed for all such Advances out of the proceeds of the Bonds as and when the same are issued; . . Section 2. This resolution is intended to constitute an official decIaration on the part of the City to reimburse itself out of the proceeds of the Bonds for all Advances made to pay Pre-issuance Expenditures, all within the meaning of and pursuant to Treasury Regulation ~ 1.150-2. " Section 3. Within 30 days after the date of adoption of this resolution, the recorder of the Common Council shall make a certified copy hereof available for public inspection at the main administrative offices ofthe City, and shall keep such certified copy available for public inspection at said administrative offices until all series of Bonds have been issued. Section 3. Effectiveness of Resolution. This Resolution shall take effect immediately upon its adoption by the Common Council. . ADOPTED BY THE COMMON COUNCIL OF CITY OF SPRINGFIELD AT A REGULAR MEETING HELD ON NOVEMBER 20, 1995 BY THE FOLLOWING VOTES: - . AYES: 5 o NAYS: 8;/~4 MA YOR A ITEST: ~~ . EXHIBIT "A" CAPITAL PROJECTS AND IMPROVEMENTS The capital projects and improvements to be financed by the bonds are generally described below. All are in accordance with the priorities established by the Common Council based on the review by the Springfield Tomorrow Improvement Plan Advisory Committee. PUBLIC SAFETY: New Fire Station: Construction of a new fire and ambulance station on land already owned by the City. Construction of a fifth fire station for Springfield will assist in improving the City's response time throughout the entire City. Communications System: Replacement of police voice radio and communications center equipment; replacement of fire dual band mobile radios and portable radio/pagers; computer network link to Regional Information Systems to complete transfer to PC network system; computer network link to fire stations; purchase of mobile data terminals to be installed in police cars and fire equipment vehicles; and purchase of pen-based computers for use. in the fire department operations in the field. Vehicles and Equipment: Purchase of new and replacement of existing vehicles for the \ police and fire departments and the purchase of other new equipment. . IMPROVE AND REPAIR CITY INFRASTRUCTURE: . Street Repairs: Repair road base failures and install asphalt concrete pavement overlay on those fully improved major streets which have deteriorated due to age, increased traffic volumes and heavy wheel loads. This work will help avoid higher costs for future reconstruction of these streets. Water Supply Protection and Flood Control: Construct a water flow control structure on the Willamette River to control water flow into the Springfield Millrace, This structure will ensure continuous recharging of the city's ground water supply, which is essential to the uninterrupted provision of water to Springfield area residents and businesses. This project is strongly recommended by federal and state agencies. Building Maintenance and Preservation: Replace major components in existing City buildings and completes facilities at maintenance shops. Includes replacing roofs at City Hall, fire stations, and maintenance shops; replacing heating, ventilation and air conditioning system at City Hall; replacing worn carpeting; painting buildings; recoating fire hose towers at fire station; remodeling existing space at city maintenance shops.. Alternate Projects: To the extent the City is able to complete any project for less than its estimated cost, the available bond proceeds will be used to finance other capital projects and improvements. All will be in accordance with the priorities established by the Common Council and include, but not limited to, projects involving maintenance or improvements to City streets and \ ; j~" .' . .' . ~ . . maintenance and improvements to City buildings. LIBRARY SERVICES: Library Expansion: Expand public access space and resources for library patrons by remodeling existing space within City Hall. Will add 2,500 square feet to the library and allow expansion of the services currently offered to City residents. SERVICE DELIVERY SYSTEMS: Computer System: Acquisition of computer systems for use in operations of City departments. Includes systems that serve fire and police dispatch, criminal justice data systems, building and business license system, finance and human resource systems, property assessment system and other business system computers.