Minutes 04/27/1999 - Laserfiche WebLink

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April 27, 1999 a. Adoption of a resolution approving the 1999-2000 through 2003-2004 Capital Improvement Plan. b. Adoption of a resolution authorizing the issuance of $5,200,000 in General Obligation Bonds. Adoption of an ordinance appropriating $8,725,333 in the Capital Improvement Fund, $5,988,450 in the Public Utilities Capital Improvement Fund, and $460,291 in Golf Capital Improvement fund. Recommendation: a) Adoption of a resolution approving the 1999-2000 through 2003-2004 Capital Improvement Plan. b) Adoption of a resolution authorizing the issuance of $5,200,000 in General Obligation Bonds. c) Adoption of an ordinance appropriating $8,725,333 in the Capital Improvement Fund, $5,988,450 in the Public Utilities Capital Improvement Fund, and $460,291 in the Golf Capital Improvement Fund. Purpose and Need: The CIP is the city's plan for major construction projects over the next five years. It is a primary means of carrying out the City Council's goals for neighborhood quality and economic development. The City Council held a joint public hearing with the Planning Commission on March 23, 1999 on the proposed CIP. The Planning Commission has endorsed the proposal. The Planning Commission recommends adoption of the proposed CIP, including the modifications proposed by the City Manager. Financial Impact: · All the funds expected to be expended by the City as a result of adopting the proposed CIP are recommended to be appropriated at the time of adoption. · Debt service on the new bonds must be included in future operating budgets until the debt is fully retired. Motion by Mr. Benn, and seconded by Mr. Pitts, to adopt the following resolutions and ordinance, and was adopted by the following vote: 99-103(A): "A RESOLUTION APPROVING THE FIVE YEAR CAPITAL IMPROVEMENT PLAN FOR 1999-00 THROUGH 2003-04, AND THE ONE YEAR CAPITAL IMPROVEMENT PROGRAM FOR 1999-00. WHEREAS, the City Manager has submitted to the City Council the Capital Improvement Plan for 1999-00 through 2003-04, and the one year Capital Improvement Program for 1999-00; and WHEREAS, the Planning Commission has reviewed and commented on the plan and program; and WHEREAS, a public hearing has been held to receive public comments on the five year Capital Improvement Plan and on the one year Capital Improvement Program; and WHEREAS, the Council has considered the five year Capital Improvement Plan and the one year Capital Improvement Program and finds them to be in the proper form and expressive of Council policies in regard to necessary capital improvements.