HomeMy WebLinkAboutA004 - Resolution No. 78=229 adopted July 17, 1978 i
' PESCLUTIFl NO. 73-229
RESOLUTION ESTABLISHING 'O► ICY FOR F11%A•.`Nr,'" G ^ESTGH AND CONSTRUCTION OF A
STEAM LINE FROM THE POG'!ER PLANT 6O r `, Y G"EEL EY H0.,P1 EA!.
VHEREA -S, the City Cat::Xi l and tite ¢Lsp'k A Bot-rd of Tres tt-s have
met togcthar in open sc�paon to discuss the aid pnnedure for f`ndnci-g
f.re d,,,ZIga and co,n tru ,tion of a st.ean 111ne .`r q the r7unlc.ipal po-er plant to
Grc ley Fttipi tal : and
i
ft" E ;E ,S, tc�e =�o;rues and procedures set out in the do:ument tra:,.
gar, and r- ";zrs of t'ie City Cot. lc:l
ft
i by ;"I D. ��aa l ey, t � i t,l A-'-In l s tr cat or, and approved d k;y tlib P:�Spl ttl B!.p . d
i
of
Tr��.s was :t t'€'�;�it r: ��,i.o43 June 29, 1�78, is accaptab'e to t!,e City Cot,.
N101W IHEREFOn.F, PE IT r ESOC V ED that:
t
( 1• arx Fd~y;yo :�d d�a�. a 11E;e as de»crfl.4d above will be financed �.y
th;a issutince of Geparal Obli ation 4L,-,nds with voter approval of said bonds to
be sought in the Novemter City election.
2. All costs for the design and cnnstric.tion of t`e said steam 1 �,raz
including any rodiflcation to the electric _fienr:rating plant r:- de rcPessary by
tie steam line shall be dc-"erred and f inanCed by the proceeds of the said
General Obligation bond issue.
3. The principal and interest payr*nts due and becoming due on the
GLanerai Obligation bonds sold to finance the said steam line shall be paid
I out of reveAnves of Fi ry Gr z—ley Fos pi tal and not from general funds or property
tax re-yenves of `dhe C'i:y of Arts.
4. In the evert that the bond issue referred to above should fail
to obtain: the required ectLr approval , all expenses Incurred prior to the
e1e,t,cn id r da_�ign or c €istrdct'n7 or radi fi_ati on,., *M the Power plant sWl
be t,�rn,_7- by the reve"Ves cf t'Oe 01ec-Lr% utility znd all cthtr costs or ex-
p2ns�es ;r.cu;red ti,zll by Lx:;-re b; the revenuys of !�Lry Greeley Hospital.
Introduced by Council Member Curtis.
d-condFd by COLnCil Meer Hamer.
A.Kp-s City Council voting aye: Atherly, Curtis, Harr, Huston, Van Drie.
Ares City Council voting ray: hone.
A.r*s City Council Pe•„ rs Absent: Shank.
Ares Hospital Board of Trustees voting aye: Walters, Allen, McRoberts,
Thurston, Dobson.
Ames Hospital Board of Trustees voting nay: None.
ADOPTED this 17th day of July, 1978.
Lee Fellinger, Kay or
Marvin Walter, Chairman
Hospital Board of Trustees
Mary E. Paul , City Clerk