Laserfiche WebLink
ARTICLE V <br /> <br />BONDS <br /> <br />Section 20-61. Resolution to incur bonded indebtedness. <br /> <br /> Whenever the City Council deems it necessary for an existing or proposed <br />community facihties district to incur bonded indebtedness, it shall, by resolution, set <br />forth all of the following: <br /> <br />(a) A declaration of the necessity for the indebtedness. <br /> <br />(b) The purpose for which the proposed debt is to be incurred. <br /> <br />(c) The amount of the proposed debt. <br /> <br /> (d) The time and place for a hearing by the City Council on the proposed <br />debt issue. <br /> <br />Section 20-62. Inclusion of certain costs and estimated costs in proposed bonded <br />indebtedness. <br /> <br /> The amount of the proposed bonded indebtedness may include ail costs and <br />estimated costs incidental to, or connected with, the accomplishment of the purpose for <br />which the proposed debt is to be incurred, including, but not limited to, the estimated <br />costs of construction or acquisition o£ buildings, or both; acquisition of land, rights-of- <br />way, water, sewer, or other capacity or connection fees; lease payments for school <br />facilities that are relocated, satisfaction of contractual obligations issued pursuent to this <br />Code, architectural engineering, inspection, legal, fiscal, and financial consultant fees; <br />environmental review and monitoring costs; bond and other reserve funds; discount fees; <br />interest on any bonds of the district due and payable prior to the expiration of one year <br />from the date of completion of all of the facilities, not to exceed five years; election costs; <br />administrative expenses of the City in administering the district or the levy and collection <br />of the special taxes; and all costs of issuance of the bonds, including, but not limited to, <br />fees for bond counsel, costs of obtaining credit ratings, bond insurance premiums, fees for <br />letters of credit, and other credit enhancements costs, and printing costs. <br /> <br />Section 20-63. Notice of hearing on resolution. <br /> <br /> The City Clerk shall publish a notice of the hearing in a newspaper of general <br />circulation circulated within the district. The notice shah state: <br /> <br />(a) The time and place of the hearing. <br /> <br /> (b) At that time and place any p~rson interested, including all persons <br />owning property in the district, will be heard upon the proposed debt issue. <br /> <br />-27- <br /> <br /> <br />