HomeMy WebLinkAbout95-38 Resolution No. 95-38
RESOLUTION
AUTHORIZING INVITATIONS FOR SEALED BIDS FOR $16,455, 000
GENERAL OBLIGATION CORPORATE PURPOSE BONDS, SERIES 1995
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELGIN,
ILLINOIS, that Speer Financial, Inc. be and is hereby
authorized to solicit sealed bids for $16 , 455, 000 General
Obligation Corporate Purpose Bonds, Series 1995, for the
objects and purposes described in Exhibit A, a copy of which
is attached hereto and made a part hereof by reference.
sl George VanDeVoorde
George VanDeVoorde, Mayor
Presented: February 22 , 1995
Adopted: February 22 , 1995
Vote: Yeas 7 Nays 0
Attest:
sl Dolonna Mecum
Dolonna Mecum, City Clerk
Exhibit A
Project Description Amount
GENERAL CAPITAL IMPROVEMENTS
Area III Special Assessment $ 280, 000
Neighborhood Street Reconstruction $ 3, 050, 000
Slade Avenue Street Improvements $ 635, 000
Law Enforcement Site Clean-Up $ 600, 000
Kimball Corridor $ 1, 550, 000
Kimball Street/Route 31 Intersection $ 285, 000
Seigle ' s/Railroad Acquisition $ 100, 000
Subtotal $ 6 ,500, 000
WATER SYSTEM
Riverside Treatment Plant Expansion/Improvements 880, 000
Airlite Plant Upgrade 205, 000
Coombs 1 MG Water Tower; Airlite to Coombs Main 40, 000
AMR Meter Conversion $ 550, 000
Slade Avenue 2 MG and 1 MG Reservoirs $ 2 , 055, 000
Dundee Avenue Booster - Brant Drive Water Main $ 25, 000
Annual Distribution System Upgrading $ 820, 000
Water Main Reimbursement $ 90, 000
Alft/Big Timber Easements $ 115, 000
Shales Water Main Litigation Contingency $ 110, 000
Subtotal $ 4 , 890, 000
SEWER SYSTEM
Otter Creek Lift Station $ 230, 000
Northwest Interceptor Ph. 1 - Abbott Lift Station $ 4 , 315,000
Combined Sewer Overflows $ 145, 000
Annual Neighborhood Sewer Repairs $ 250, 000
North Randall Interceptor $ 125, 000
Subtotal $ 5 , 065, 000
TOTAL $16 , 455, 000