HomeMy WebLinkAboutRes 1999-11RESOLUTION NO. 1999-11
RESOLUTION ORDERING AND CALLING A SPECIAL BOND ELECTION TO BE HELD
IN AND FOR THE TOWN OF FOUNTAIN HILLS, ARIZONA, ON MAY 18, 1999, TO
SUBMIT TO THE QUALIFIED ELECTORS THEREOF THE QUESTION OF
AUTHORIZING THE ISSUANCE AND SALE OF UP TO $1,400,000 PRINCIPAL AMOUNT
OF GENERAL OBLIGATION BONDS, PROJECT OF 1999, TO FINANCE THE
ACQUISITION OF CERTAIN OPEN SPACE.
WHEREAS, the Mayor and Council of the Town of Fountain Hills, Arizona, believe it
to be in the best interest of the Town to authorize the issuance and sale of a total of up to $1,400,000
principal amount of General Obligation Bonds to complete two separate purposes; and
WHEREAS, it is necessary that the Mayor and Council submit the question of the
issuance and sale of such bonds to the qualified electors of the Town;
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL
OF THE TOWN OF FOUNTAIN HILLS, ARIZONA:
Section 1. A special bond election in the Town of Fountain Hills, Arizona, hereinafter
referred to as the "Town ", is hereby called to be held on May 18, 1999, to submit to the qualified
electors of the Town the question as shown on the form of ballot attached hereto and marked Exhibit
A.
Section 2. The Clerk is hereby directed to cause the preparation and distribution of an
information pamphlet and sample ballot for the Town pursuant to A.R.S. § 35 -454. The officers of the
Town are hereby authorized to prepare and deliver or cause to be prepared and delivered to the Clerk
the information necessary or appropriate for completing the information pamphlet, including, without
limitation, the estimated debt retirement schedule, estimated issuance costs, estimated tax rate impact
on an average owner- occupied residence and commercial industrial property, current outstanding debt
and debt limitation, an introductory statement on behalf of the Town, and a statement of the purpose
for which the bonds are to be issued.
Section 3. Notice of the special bond election is ordered to be given by causing the
information pamphlet to be mailed not less than ten (10) days and not more than forty (40) days before
the date of election to the residence of each registered voter of the Town as shown on the general
county register. The Clerk is hereby authorized and directed to cause the information pamphlet to be
prepared and mailed as required by law and in accordance with the provisions of this resolution and to
cause a copy of the information pamphlet to be submitted to the Arizona Department of Revenue
within thirty (30) days after the election.
Section 4. The Clerk is hereby directed to cause ballots to be printed and delivered to
the election boards to be furnished to the qualified electors offering to vote at the election.
Section 5. The election will be conducted and the poll lists kept, and the votes cast
thereat shall be counted and tabulated and the returns thereof will be made in the manner provided by
law and only persons will be allowed to vote at the election who are qualifie tors of he T w
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MOON
SWR:gmb 294479.01 2/9/99 SECOND
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Perna_ ha'�
CERTIFICATION
I, Cassie Hansen, the duly appointed and acting Town Clerk of the Town of Fountain
Hills, Arizona, do hereby certify that the above and foregoing Resolution No. 1999 -11 was duly passed
by the Town Council of the Town of Fountain Hills, Arizona, at a regular meeting held on February
18, 1999, and the vote was 6 aye's and 1 nay and that the Mayor and 6 Council Members were present
thereat.
Cassie Hansen, Town Clerk
-3-
SWR:gmb 294479.01 219/99
EXHIBIT A
OFFICIAL BALLOT
FOR SPECIAL BOND ELECTION IN AND FOR THE TOWN OF FOUNTAIN HILLS,
ARIZONA ON MAY 18, 1999.
uestion
Shall the Mayor and Council of the Town of Fountain Hills, Arizona (the "Town "), be authorized to
issue and sell general obligation bonds of the Town in the principal amount of up to $1,400,000 to
provide funds: (1) to acquire, purchase or condemn certain land for open space preservation, more
particularly described as follows: approximately 60 acres of land which includes 9.25 acres suitable for
24 development units commonly known as Diamonte Del Lago Phase 3 which is located and includes a
major portion of the prominent ridgeline directly east of the Arriba Del Lago subdivision; and (2) to pay
all environmental, financial, legal, engineering and other costs incurred in connection with the
purpose and the issuance of the bonds?
The bonds may be sold at a premium not to exceed the maximum amount permitted by law, will
bear interest at a rate or rates of not to exceed ten percent (10 %) per annum and will mature over a
period of not to exceed thirty (30) years from the date of their issuance. The bonds shall be in such
authorized denominations and bear such other terms as determined by the Mayor and Council of the
Town.
BONDS, YES D
BONDS, NO D
NOTICE TO VOTERS:
The voter shall place a mark in the square opposite the words "Bonds, Yes" or "Bonds, No ",
whichever words express the voter's choice. Only qualified electors of the Town of Fountain Hills
are eligible to vote at this election.
SWR:gmh 294480 2/9/99 A-1
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2 -11 -99
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