Minutes - 1998 - City Council - 02/05/1998 - SpecialEAGLE CITY COUNCIL
SPECIAL MEETING MINUTES
FEBRUARY 5, 1998
COUNCIL: 5:00 p.m.
1. CALL TO ORDER:
2. ROLL CALL: Bastian, Merrill, Sedlacek, Guerber. Bastian is absent. A quorum is present.
3. NEW BUSINESS:
A. In accordance with Idaho Code, Section 50-467, the City Clerk is requesting
the Mayor and Council to canvass the results of the General Obligation Bond
Election. (SKS)
Mayor introduces the issue.
City Clerk: Tally of the Library Bond Election:
Total votes cast: 1,323
Total for: 1,017
Total against: 306
2/3rds = 882 votes
Precinct #500 - Total votes cast: 871
Total for: 671
Total against: 200
Precinct #501 - Total votes cast: 452
Total for: 346
Total against: 106
Guerber moves to approve the votes as presented by the City Clerk. Seconded by Merrill.
ALL AYE: MOTION CARRIES ....................
City Clerk: Bond attorney has provided Resolution 98-5 for canvassing the votes that needs to
be added to the agenda.
General discussion.
Sedlacek moves to add Resolution 98-5 to the Agenda. Seconded by Merrill. ALL AYE:
MOTION CARRIES ...............
Guerber moves to approve Resolution 98-5. Seconded by Merrill. ALL AYE: MOTION
CARRIES ............
4. ADJOURNMENT:
Sedlacek moves to adjourn. Seconded by Merrill. ALL AYE: MOTION CARRIES...
Hearing no further business, the Council meeting adjourned at 5:10 p.m.
Respectfully submitted:
)3 U..v
CITY CLERK/TREASURE
APPROVED
MAYOR
SAMPLE BALLOT
GENERAL OBLIGATION BOND ELECTION
February 3, 1998
CITY OF EAGLE, IDAHO
INSTRUCTIONS TO VOTERS: To vote on the following proposition, please make
an (X) or other mark in the space to the right of the words "IN FAVOR OF issuing
bonds to +he amount of $2,850,000 for the purposes stated in Ordinance No. 314"
or "AGAINST issuing bonds to the amount of $2,850,000 for the purposes stated
in Ordinance No. 314" according to the way you desire to vote on the question. If
you, by mistake or accident, mark, deface, mutilate, or otherwise spoil this ballot,
please return it to an election official and obtain another ballot.
SHALL THE CITY OF EAGLE BE AUTHORIZED TO INCUR
AN INDEBTEDNESS AND ISSUE AND SELL ITS GENERAL
OBLIGATION BONDS IN THE PRINCIPAL AMOUNT OF
NOT TO EXCEED $2,850,000 TO PAY THE COST OF SITE
ACQUISITION AND THE ACQUISITION, CONSTRUCTION,
FURNISHING AND EQUIPPING OF A PUBLIC LIBRARY
FACILITY AND RELATED FACILITIES AND EQUIPMENT,
AND COSTS INCIDENTAL THERETO, SAID BONDS TO
MATURE AND TO BE PAYABLE FROM A LEVY OF TAXES
OVER A TERM WHICH MAY BE LESS THAN BUT WHICH
SHALL NOT EXCEED TWENTY (20) YEARS, ALL AS MORE
FULLY PROVIDED IN ORDINANCE NO. 314, ADOPTED ON
DECEMBER 9, 19977
IN FAVOR OF issuing bonds to the amount of $2,850,000 for Ell
purposes stated in Ordinance No. 314 . /(2 ./ 7
AGAINST issuing bonds to the amount of $2,850,000 for
the purposes stated in Ordinance No. 314 30C,9c :)-�_ �(;' ,� �� -7 7 /7
The following information is required by Section 34-440, Idaho Code:
The City has no existing indebtedness. The interest rate anticipated on the
proposed bonds is 5.15% per annum. The range of anticipated rates is from
four percent (4.0%) to nine percent (9.0%) per annum. The total amount
to be repaid over the life of the proposed bonds, principal and interest, based
on the anticipated interest rate, is estimated to be $4,606,000. -6/
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