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nter: <br />pen! <br />COUNCIL MEETING <br />JUN 2 8 W99 <br />CITY OHUNO <br />REQUEST FOR COUNCIL ACTION <br />DATE: June 25.1999 <br />ITEM NO; 2^ <br />Department Approval: <br />Name Ron Moorse <br />Title City Administrator <br />Administrator Reviewed:Agenda Section: <br />City Administrator ’s <br />Report <br />Item Description: Award Sale of General Obligation Improvement Bonds, Series 1999 - Resolution <br />At its May 24,1999 meeting, the City Council called for the sale of General Obligation Improvement <br />Bonds to fund sanitary sewer projects for three neighborhoods, which include Shoreline/Heritage <br />Lane, Orono Orchards and Edgewood Hills. Ehlers Associates, the City's bond consultant h^ <br />coordinated a competitive bid process for the sale of the bonds. The results of the sale wll be <br />presented to the Council by Carolyn Drude of Ehlers Associates. The Council will then consider the <br />award of the sale of the bonds. <br />COUNCIL ACTION REQUESTED: <br />Motion to adopt a resolution awarding the sale of General Obligation Improvement Bonds, Series <br />1999 in the amount of $1,190,000.