HomeMy WebLinkAbout96-39 Resolution No . 96-39
RESOLUTION
AUTHORIZING INVITATIONS FOR SEALED BIDS FOR $13, 990, 700
GENERAL OBLIGATION CORPORATE PURPOSE BONDS, SERIES 1996
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 $13, 990, 700 General
Obligation Corporate Purpose Bonds, Series 1996 , for the
objects and purposes described in Exhibit A, a copy of which
is attached hereto and made a part hereof by reference.
s/ Kevin Kelly
Kevin Kelly, Mayor
Presented: February 14 , 1996
Adopted: February 14 , 1996
Vote: Yeas 4 Nays 3
Attest:
s/ Dolonna Mecum
Dolonna Mecum, City Clerk
Exhibit A: 1996 Bond Sale Projects
General Capital:
Access Road - South from Rt. 72 $1,900,000
Hemmens/City Hall HVAC 1,260,000
Hemmens Replacement of Expo Hall Roof and Basement Ceiling 445,000
Hemmens Safety and Interior Improvements 197,700
Kimball Street Corridor 125,000
Kimball/Rt. 31 Intersection 550,000
Renovation of City Facilities 640,000
Subtotal $5,117,700
Water Capital:
AMR Meter Conversion $ 525,000
Airlite Plant Sludge Lagoons 775,000
Airlite Water Plant Upgrade 25,000
Annual Distribution System Upgrading 525,000
Big Timber Phase 3 Water Main 1,235,000
Northwest Corridor Water Main 160,000
Randall Road 1MG Water Tower 1,430,000
Randall Road Water Main 140,000
Riverside Water Treatment Plant Expansion 45,000
Subtotal $4,860,000
Sewer Capital:
Annual Neighborhood Sewer Repairs $ 263,000
Big Timber Sanitary Sewer •
360,000
Combined Sewer Overflows 75,000
Otter Creek Lift Station 2,950,000
Randall Road Sanitary Sewer 365,000
Subtotal $4,013,000
Total 1996 General Obligation Bond Issue $13,990,700