#2000-2: WATERWORKS REVENUE BONDS (8/29/2000)

ORDINANCE NO. 2

An Ordinance of the Town of Bunker Hill authorizing the issuance of waterworks revenue bonds for the purpose of providing funds to pay the cost of certain additions, extensions and improvements to the municipal waterworks of said Town, providing for the safeguarding of the interests of the owners of said bonds, other matters connected therewith, including the issuance of notes in anticipation of bonds, and repealing ordinances inconsistent herewith

WHEREAS, the Town of Bunker Hill ("Town") now owns and operates an unencumbered municipal waterworks in accordance with the provisions of Title 8, Article 1.5 of the Indiana Code, as in effect on the date of delivery of the bonds herein authorized ("Act"), furnishing the public water supply to said Town and its inhabitants; and

WHEREAS, the Town Council of the Town now finds that certain improvements arid extensions to said works are necessary; and that plans, specifications, and estimates have been or will be prepared and filed by the engineers employed by the Town for the construction of said improvements and extensions, as more fully described on Exhibit A attached hereto ("Project"), which plans and specifications have been or will be approved by the Town Council and by all governmental authorities having jurisdiction; and

WHEREAS, the Town has obtained engineers' estimates of the costs for the construction of said Project and will advertise for and receive bids for the Project, which bids will be subject to the Town's obtaining funds to pay for said Project; that on the basis of said estimates, the maximum estimated cost of the Project, including incidental expenses, is in the estimated amount of One Million Five Hundred Eighty Thousand Dollars ($1,580,000); and

WHEREAS, the Town Council finds that a Department of Commerce grant in the estimated amount of $480,000 will be available to apply on costs of the Project leaving a balance which will

Editor's Note: Per agreement, only the first page of large bond ordinances is converted. Photos of all the pages of the ordinance are available through the following links: