HomeMy WebLinkAbout2003-09-02 - Bonds/LeveeA RESOLUTION STATING THE CITY'S INTENTION TO ISSUE SPECIAL REVENUE
BONDS IN CONNECTION WITH THE LEVEE PROJECT AND PROVIDE
REIMBURSEMENT FOR CERTAIN CAPITAL EXPENDITURES.
WHEREAS, the City is a fourth class city duly organized and existing under the laws of
the State of Missouri and is authorized and empowered under the laws of Missouri, to issue
bonds for the purpose of financing certain infrastructure improvements and related costs; and
WHEREAS, the City has approved the L-3 SS Levee Redevelopment Plan and the
construction of the Levee Project, Redevelopment Project I thereunder; and
WF~REAS, the City, in conjunction with the Riverside Quindaro Bend Levee District of
Platte County, Missouri ("District"), is pursuing the construction of the Levee Project; and
WHEREAS, the City desires to state its intent to issue special revenues bonds in a
principal amount not to exceed $16,300,000, for the purpose of financing certain costs related to
the Levee Project, Redevelopment Project I (the "Project") and the payment and/or
reimbursement of certain costs relating to the Project and certain costs of issuance.
NOW THEREFORE, BE IT RESOLVED by the Board of Aldermen of the City of
Riverside, Missouri, as follows:
1. The City states its intention to issue bonds in a maximum aggregate principal
amount of not more than $16,300,000 and use the proceeds thereof to pay costs and expenses of
and/or reimbtuse expenditures related to the Project.
2. The City expects that certain capital expenditures, including but not limited to an
approximately $1.3 million dollar payment to the District for immediate costs, may be made after
the date of this Resolution in connection with payment of costs of the Project and the City
intends to provide reimbursement for such expenditures with the proceeds of the Bonds.
P~"SED AND ADOPTED by the Hoard of Aldermen of the City of Riverside, Missouri
this 2nd day of September, 2003.
Betty Burch
Mayor
ATTEST:
[seal]
Louise Rusick
City Clerk