NOTICE OF PUBLIC MEETING
Notice is hereby given that the Winthrop Town Council will meet on August 3, 2020 at 7:00 p.m., remotely by Zoom meeting, to give consideration to passage of the following Bond Order for the purpose of making certain capital acquisitions and refunding outstanding balance of existing debt. The public is invited to attend the Zoom meeting by using the login information contained in the Council Agenda posted at winthropmaine.org.
ORDER NO. 2020-
2020 $4,075,000 GENERAL OBLIGATION
REFUNDING AND NEW MONEY BONDS
BE IT ORDERED that under and pursuant to the provisions of Title 30-A, Section 5772 of the Maine Revised Statutes, as amended, and the Charter of the Town of Winthrop, Maine, the issuance of General Obligation Bonds in the aggregate amount of $4,075,000, is hereby approved, which amount is appropriated to fund the purposes of this Order; and
BE IT FURTHER ORDERED that the Bonds are to be issued on a tax-exempt basis with the proceeds of said Bonds being used in part to refund existing obligations and in part to fund capital acquisitions, and including expenses reasonably related thereto, all as shown on the attached list which includes an approximate allocation of the proceeds of the Bonds; and
BE IT FURTHER ORDERED that the refunding of the obligations shown on the attached list is hereby approved, and an allocation of proceeds in the approximate amount shown for each refunding is hereby approved; and
BE IT FURTHER ORDERED that the capital acquisitions shown on the attached list are hereby approved, and an allocation of proceeds in the approximate amount shown for each acquisition is hereby approved; and
BE IT FURTHER ORDERED that the Town Treasurer and the Chair of the Town Council are hereby authorized to issue the General Obligation Bonds in the name of the Town in a principal amount not exceeding $4,075,000; and
BE IT FURTHER ORDERED that the discretion to fix the date, maturity, interest rate, place of payment, form and other details of said Bonds, including execution and delivery of said Bonds against payment therefore, and to provide for the sale thereof, is hereby delegated to the Treasurer and the Chair; and
BE IT FURTHER ORDERED that a tax levy is hereby imposed upon all taxable property within the Town of Winthrop, Maine, in an amount necessary to meet the payments of principal and interest on said Bonds and such necessary amounts shall be included in the tax levy for each year until the debt created by the issuance and sale of said Bonds is extinguished.