09 - BOND ELECTION CANVASSING OF RETURNS

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Item No. 9 memorandum TO: Mayor & City Council John Godwin, City Manager FROM: Janice Ellis, City Clerk SUBJECT: BOND ELECTION CANVASSING OF RETURNS DATE: May 8, 2017 BACKGROUND: On February 13, 2017 by resolution number 2017 -012, City Council ordered a bond election for the purpose of voters to consider two propositions. STATUS OF ISSUE: On May 6, 2017, the voters of the city of Paris voted on Proposition No. 1 for issuance of $9,500,000 tax bonds for constructing, improving, extending, expanding, upgrading and developing streets and roads, bridges and intersections including, utility relocation, landscaping, sidewalks, traffic safety and operational improvements, the purchases of any necessary right -of -way, drainage and other related costs. The proposition passed with 426 votes cast for the proposition and 218 votes cast against the proposition. On May 6, 2017, the voters of the city of Paris voted on Proposition No. 2 for issuance of $500,000 tax bonds for improving and equipping parks, trails and recreational facilities. The proposition passed with 381 votes cast for the proposition and 259 votes cast against the proposition. BUDGET: N/A RECOMMENDATION: Approve the resolution canvassing the returns for the Bond Election as required by State Law.