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THURSDAY, SEPTEMBER 4,1997 <br /> <br />Council next considered the adoption of an Authorization and <br /> <br />Reimbursement Resolution related to the Issuance of Bonds for Financing <br />School Projects. Mr. Paul Jacobson, Bond Counsel from Sands, Anderson, <br />Marks & Miller, was present to explain this item, as well as future <br />action requirements necessary to acquire the bonds for the school' <br />projects in question. City Manager Reynolds noted that action was <br />necessary on this Resolution at this time in order to be able to carry <br />out the Public Hearing necessary for the issuance of the bonds, that must <br />be held on September 23, 1997. Mr. Reynolds also commented on how well <br />the loan solicitation had gone, and how competitive the process had been. <br />He then handed out copies of the School Systems proposed Capital <br />Improvement Plan, as revised by School Superintendent Dr. Ira Trollinger. <br />Mr. Jacobson then reviewed the process and steps necessary to accomplish <br />the Bond issuance, noting the following: <br /> <br /> * September 4, 1997 - Approval of Authorization and Reimbursement <br /> Resolution. <br /> <br /> * September 9, 1997 - Approval of Proposed Ordinance Reciting the <br /> Expediency of the Issuance of Bonds and Setting Forth the Purpose, <br /> in General Terms, for which Bonds are to be Issued, The Maximum <br /> Amount of Bonds to be Issued, and the Maximum Amount of Time such <br /> Bonds will be Outstanding. <br /> <br /> * September 10 and 17, 1997 - Notices of Public Hearing on Proposed <br /> Bond Issuance placed in local newspaper and broadcast on local <br /> radio and television stations. <br /> <br /> * September 23, 1997 - Public Hearing and action on Ordinance <br /> Authorizing the issuance of up to $2,000,000 in General Obligation <br /> <br /> <br />