90-076 - Laserfiche WebLink

Home Browse Search

RESOLUTION NO. 90- 076 STATE OF MINNESOTA COUNTY OF RAMSEY CITY OF NEW BRIGHTON RESOLUTION ESTABLISHING THE METHOD OF FINANCE FOR THE CONSTRUCTION OF THE COMMUNITY CENTER WHEREAS, through need assessments and surveys, the citizens of New Brighton have expressed their desire for a community center; WHEREAS, the Council appointed an advisory group to further study the possibility of a community center; WHEREAS, the advisory group has determined that a community center would be desirable and of benefit for the citizens; WHEREAS, the advisory group has determined that the center would enhance the community as a whole; WHEREAS, the advisory group found that the initial components of the project should include a senior citizen activity area, teen lounge, leisure pool, recreational facilities, and meeting/craftrooms; WHEREAS, the preferred finance strategy is one which combines the direct involvement of the citizens and the community as a whole; WHEREAS, the estimated cost of acquiring the property, constructing the center and equipping it is $7,500,000; NOW, THEREFORE, BE IT RESOLVED THAT: 1. The construction of a community center shall be financed as follows: $5,500,000 from the issuance of general bonds $2,000,000 from the Environmental Fund 2. The bonds shall be repaid from a general tax levy. 3. The $2,000,000 from the Environmental Fund shall be irrevocably pledged for construction; and, the remainder of this Fund unaffected by the project. 4. The terms of this Resolution shall be void if the general obligation bond issue is not approved by the electorate. , Adopted this 10th day of September, 1990. " ..-~;'ATTEST: .~ ''-Har~ ~n, Finange Director/City Clerk ayor _~m.~ David M. Childs, City Manager '~ ' II (SEAL)