1966-22 Authorizing $750,000 Bond Note For Constructing An Elementary School Building.KODIAK ISLAND BOROUGH
RESOLUTION NUMBER 66- .,2.2 - i
A resolution of the Borough Assembly of the KODIAK
ISLAND BOROUGH authorizing Governmental Statistical Corporation
to negotiate for the Sale of $750,000.00 school bonds, bond
anticipation notes.
WHEREAS, the qualified electors of the KODIAK ISLAND
BOROUGH at the regular election held in the KODIAK ISLAND BOROUGH
on Tuesday, the fifth day of October, authorized the issuance of
General Obligation Bonds in the sum of SEVEN HUNDRED FIFTY TBLJSAND
and No /100ths ($750.000.00) DOLLARS for the purpose of constructing
an elementary school building and,
WHEREAS, at the present time it would not be in the best
interests of the KODIAK ISLAND BOROUGH to sell said Bond Issue due
to present market conditions for municipal bonds, and,
WHEREAS, the KODIAK ISLAND BOROUGH is in the process
of constructing an elementary schal pursuant to the authority grant-
ed by the qualified voters and at the present time is in need of
interim financing for said School Construction,
H NOW, THEREFORE, BE IT RESOLVED that the KODIAK ISLAND
BOROUGH ASSEMBLY authorize its financial consultant GOVERNMENTAL
STATISTICAL CORPORATION to enter into negotiations for the sale of
SEVEN HUNDRED FIFTY THOUSAND and No /100ths ($750,000.00) DOLLARS,
in bond anticipation notes and that the firm of PRESTON, THORGRIM-
SON, HOROWITZ, STARIN & ELLIS, Bond Counsel, be authorized to pre-
pare the attendant legal documents.
PASSED AND APPROVED this 16th day of June, 1966.
ATTEST:
KODIAK ISLAND BOROUGH ASSEMBLY
BY: Lk' Ste VN.
.7" L,j , % . "—
Presiding Offtcer
Chairman