#444 11-06-72 Appropriate Proceeds Park Bond IssueResolution No. 444
November 6, 1972
Member Hoover introduced the following resolution and MOVED its adoption:
RESOLUTION APPROPRIATING PROCEEDS OF 1972 PARK BOND ISSUE
WHEREAS, The Village Council has issued bonds in the amount of $980,000
to finance park and trail development, and
WHEREAS, The proceeds of said issue are designated for certain improvements
specific park areas,
NOW, THEREFORE, BE IT RESOLVED that the Village Council hereby makes the
following appropriations:
43-501
Brookview Park
$130,800
43-502
Bassett Creek Park
3,000
43-503
43-504
Glenview Terrace Park
23,300
43-505
Golden Oaks Park
8,500
43-506
Hampshire Park
47,000
43-507
Lions Park
Lakeview Heights Park
129,550
2,500
43-508
Medley Park
78,750
3-509
Natchez Park
7,500
43-510
North Tyrol Park
6,900
43-511
Papoose Park
4,500
43-512
Scheid Park
53,550
43-513
Seeman Park
18,900
43-514
South Tyrol Park
5,500
43-515
Woodlawn Park
43,700
43-516
Yosemite Park
1,350
43-521
Wesley Park
54,300
43-522
Rice Lake Park
14,000
43-523
Wildwood Park
25,500
43-524
Trails System
143,000
43-535
Park Shop
50,000
3-497
Contingencies
102,243
BE IT FURTHER RESOLVED that the balance of $25,657 is set aside to cover financ-
ing costs, including discount on bonds sold, and after payment of all such costs
any financing funds remaining are to be transferred to the Sinking Fund for
this bond issue;
BE IT FURTHER RESOLVED that this bond issue was sold at this time to take
advantage of market conditions and any interest earned from investment of
unused funds from time to time shall be crediped to said king Fund.
Attest: ✓C�`'
✓�� ,1�� �/� Mayor
Village Clerk
The motion for the adoption of the foregoing resolution was duly seconded by
Member Stockman, and upon vote being taken thereon, the following members voted
in fav?r thereof: Hoover, Riggs Stockman, and Ulstad; and the following voted
agains� the same: None, whereupon said resolution was declared duly passed and
adopted, signed by the Mayor, and his signature attested by the Village Clerk.
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