HomeMy WebLinkAbout134-91RESOLUTION NO. 134-91
A RESOLUTION DECLARING INTENTION TO REIMBURSE
THE TOWN OF DANVII.T.E FOR PRELIMINARY EXPENSES
IN CONNECTION WITH PROPOSED LAWRENCE ROAD
PUBLIC FINANCING PROCEEDINGS
WHEREAS, The Town of Danville has initiated preliminary steps toward formulation and
implementation of public financing proceedings respecting public water system
improvements to serve properties in a location commonly referred to as the Lawrence
Road Area; and
WHEREAS, in connection with said preliminary steps, the Town has incurred and will
incur further expense prior to implementation of the proposed public financing; now,
therefore
BE IT RESOLVED, that the Town Council of the Town of Danville hereby declares its
intent that the Special Revenue Fund be reimbursed for all reasonably related costs and
expenses incurred by the Town in the course of formulating and implementing the
proposed water system and other infrastructure improvement projects. This
reimbursement may come from payments made directly by affected property owners or
from proceeds of anticipated tax-exempt securities to be issued and sold in connection
with said proceedings. Any public financing would also be expected to recover related
financing costs.
APPROVED by the Danville Town Council at a Regular Meeting on July 16, 1991, by the
following vote:
AYES: GREENBERG, LANE, RITCHEY,
NOES: NONE
ABSTAINED: NONE
ABSENT: NONE
ATTEST:
ITY CLE~~~j~
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SCHLENDORF, SHIMANSKY
MAYOR
//CITY ATTORNEY