HomeMy WebLinkAboutRESOLUTION NO 16 03 368I
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STA TE OF GEORGIA
COUNTY OF FULTON
RESOLUTION NO. 16-03-368
RESOLUTION OF THE MAYOR AND COUNCIL OF MILTON, GEORGIA
REGARDING AP ARK AND GREEN SPACE BOND
WHEREAS, the Mayor and City Council for the City of Milton believe there exists a
need in Milton to expand opportunities for the acquisition, improvement, and/or preservation of
park and green space properties;
WHEREAS, one means of expanding the number of properties available for park use
and green space preservation, is to request that the citizens of Milton authorize a general
obligation bond or other, similar debt instrument such as will allow the City to acquire or obtain
interests in park land and green space areas, leverage green space preservation opportunities, and
otherwise fund park and green space improvements;
WHEREAS, the City Council believes that a bond or debt instrument of no less than
$25,000,000 is needed;
WHEREAS, the bond or debt instrument contemplated above would need voter
authorization;
WHEREAS, one viable date for such voter approval is the ovember, 2016 general
election;
WHEREAS, the City Council wishes to formally direct staff and the City Attorney to
commence all legally required steps to cause a bond or debt issuance ballot question to appear on
the November 2016 general election;
WHEREAS, the City Council further wishes to retain Roger Murray, of the firm Murray,
Barnes and Finister, LLP to serve as bond counsel for this proposed bond or debt issuance; and
WHEREAS, the City Attorney shall serve as local counsel for the proposed bond or debt
issuance.
NOW THEREFORE BE IT RESOLVED by the Mayor and Council of the City of
Milton, that the City of Milton hereby directs staff and the City Attorney to commence all legally
required steps to cause a bond or debt issuance ballot question to appear on the November 2016
general election ballot; which, if approved, would authorize the City of Milton to issue bonds or
debt of no less than $25,000,000 for the acquisition of -or securing interests in -park and green
space properties in Milton, leveraging green space preservation opportunities, and/or otherwise
funding park and green space improvements; and,
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BE IT FURTHER RESOLVED that Roger Murray, of the firm Murray, Barnes, and
Finister, LLP is hereby approved to serve as bond counsel for this proposed bond or debt
issuance, and the City Attorney shall serve as local counsel.
SO RESOLVED, this 7th day of March , 2016.
Mayor Joe Lockw od
Sudie Gordon, Clerk
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