1843RESOLUTION NO.1843
A RESOLUTION OFTHE CITY COUNCIL OFTHE CITYOF MOSES LAKE,WASHINGTON,
AUTHORIZING PRINTING OF APPROXIMATELY $320,000 OF WATER AND SEWER REVENUE
BONDS TO PAY PART OF THE COSTS OF THE IMPROVEMENTS IN UTILITY LOCAL
IMPROVEMENT DISTRICT NO.5,AUTHORIZING CERTAIN CITY OFFICIALS TO APPROVE A
PRELIMINARY OFFICIAL STATEMENT FOR SUCH BONDS,AND APPROVING AN UNDERWRIT
ER TO MARKET SUCH BONDS
Recitals:
v->1. The City Council of the City of Moses Lake, Washington, has determined that it is in the best
interest of the city to provide for payment of the costs of carrying out the improvements in Utility
Local Improvement District No. 5 by the issuance and sale of water and sewer revenue bonds in
the estimated principal amount of $320,000.
2. Itis desirable that the city obtain monies from the sale of the bonds on or before August 31,
1994,and to meet such bond settlement date it is necessary to authorize printingof the bonds
priorto passage of an ordinance authorizing issuance of the bonds,consideration of which
bond ordinance is anticipated at the City Council meeting on August 23,1994.
3. It is necessary for the city to approve a preliminary official statement for the bonds before the
bonds can be marketed, by which marketing the interest rate on the bonds can be determined.
Resolved:
1.The City Council hereby authorizes special counsel to the city forthe bond issue immediatelyto
provide bond printing instructionsto Northern Bank Note Company and authorizes such compa
ny to bill the city for the cost of such printing.
2. The City Managerand City Finance Director are hereby authorized and directed to review a
preliminary official statement forthe bonds and, when it meets their approval,the City Manager
is directed to authorize its distribution.
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3. When distribution of a preliminary official statement has been authorized,the investment banking
firm of Martin Nelson &Co.,Inc.,is authorizedto marketthe bonds forthe purpose of making
an offer to purchase the bonds from the city.
Adopted by the City Council on August 9,1994.
ATTEST: