Amendment to bond documents that is to be voted on in the November General Election for the City of Marietta in Oct. 9, 2013. Motion to amend the bond documents to place a restriction or requirement on how money from the sale of property or assets that is purchased from proceeds from the bond(s) is used. Such money shall either continuously be used for the original designated purpose stated in the bond (be spent only in the area that was designated in the bond and for the purposes as set forth in the bond document) or shall be used to pay down the bond(s) as long as the bond(s) are outstanding and for no other purpose. Such restriction shall continuously attach to any proceeds from the sale of property or assets that was purchased from the original bond money or from money that was gained from the sale of property or assets that were purchased with money from the sale of subsequent property or assets that have been purchased. This item was requested by Council Member Goldstein.

Committee

CITY COUNCIL

Introduced

October 2, 2013

Passed

October 9, 2013