CITY OF HOMER

HOMER, ALASKA

City Manager

RESOLUTION 08-02

 

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF HOMER, ALASKA, CALLING FOR A SPECIAL ELECTION TO BE HELD IN THE CITY ON MARCH 25, 2008 FOR THE PURPOSE OF SUBMITTING TO THE QUALIFIED VOTERS OF THE CITY A PROPOSITION FOR THE ISSUANCE OF GENERAL OBLIGATION BONDS FOR THE CONSTRUCTION OF A NEW CITY HALL AND TOWN SQUARE (PLAZA) AND RELATED CAPITAL IMPROVEMENTS.


 

            WHEREAS, The City of Homer (the “City”) has determined to construct a new city hall and town square (plaza) and related capital improvements (the “Project”) in the City; and

 

            WHEREAS, One source of funding for the Project is to be an issue of general obligation bonds of the City; and

 

            WHEREAS, Under the provisions of AS 29.47.190, the City may incur general obligation debt only after a bond authorization ordinance is approved by a majority of those voting on the question at a regular or special election; and

 

            WHEREAS, The schedule for construction and occupancy of the Project requires that all funding for the Project be authorized no later than March 31, 2008; and

 

            WHEREAS, It is in the best interest of the City and its residents that a general obligation bond proposition be presented to the qualified voters of the City at a special election on March 25, 2008 to provide timely authorization of general obligation bond funding for the Project.

 

            NOW, THEREFORE, BE IT RESOLVED that a special election in and for the City is called for March 25, 2008, at which there shall be submitted to the qualified voters of the City a proposition for the issuance of general obligation bonds of the City for a new city hall and town square and related capital improvements.

 

            BE IT FURTHER RESOLVED that the City Clerk is authorized and directed to prepare for and conduct the special election in accordance with the City Code.

 

            PASSED AND ADOPTED by the Homer City Council this 14th day of January 2008.

 

CITY OF HOMER

 

_____________________________

JAMES C. HORNADAY, MAYOR

ATTEST:

 

______________________________

JO JOHNSON, CMC, CITY CLERK

 

Fiscal Note: Special Election estimated cost $6,550.