Notice of Intent to Issue Municipal Securities to the Electors of the City of East Lansing 

NOTICE OF INTENT TO ISSUE MUNICIPAL SECURITIES
TO THE ELECTORS OF THE CITY OF EAST LANSING
PLEASE TAKE NOTICE that the City Council of the City of East Lansing (the “City”) intends to issue municipal securities in one or more series, in an amount of not to exceed $30,000,000 (the “Municipal Securities”).
The Municipal Securities shall be issued for the purpose of defraying the cost to design, acquire and construct certain capital improvements, including but not limited to (i) improvements to the City’s Sewage Disposal System, including without limitation, sewer main improvements, including, but not limited to, replacing sewer mains, installing new sewer mains, rehabilitating and lining of sewer mains, pump station improvements, and other Sewage Disposal System improvements the City shall determine to make; (ii) improvements to the City’s Water Supply System, including without limitation, replacements and upgrades to the meter and reading system, replacing existing water mains and installing new water mains, and other water main work, water tower improvements and construction, and such other Water Supply System improvements the City shall determine to make; (iii) improvements to the City Hall, including, but not limited to, upgrades to the elevators, replacement of basement and corrections area HVAC and exhaust systems, replacement of emergency generator, replacement of certain air handling units, upgrading the building management system, improvements and replacements to the sump pump and lift stations, relocate and renovation of the ELPD women’s locker room, upgrades to the fire alarm and emergency lighting systems, and LED lighting upgrades; (iv) improvements to the Hannah Community Center, including, but not limited to, improvements to the service elevator, replacement of the rooftop air handling unit serving the executive conference room, upgrading building management systems, upgrading generator, replacing roofing and main entry doors, building envelope improvements, wall repairs and painting, installation of new fiberglass doors in Natatorium, interior and exterior lighting installation and upgrades, renovation of restrooms and locker rooms, replacement of pool deck, installation of solar panels; (v) renovation of the Hannah Community Center third floor, including, but not limited to, fire suppression and ceiling panel upgrades, ADA restroom upgrades, plumbing, HVAC and electrical upgrades, flooring and finishing upgrades, including ACM abatement, and parking lot expansion and pavement; (vi) improvements to certain parking lots, including, but not limited to, the aquatic center/softball complex and soccer complex; and (vii) improvements to the City’s fire station, including but not limited to, improvements and reconstruction of the parking lot, expansion and renovation of the sleeping quarters; as well as all work, equipment, and appurtenances necessary or incidental to these improvements and such other improvements to the Sewage Disposal System and Water Supply System and other capital improvements as the City may determine to make or acquire, and to pay the costs of issuance of municipal securities and capitalized interest, if any.
The Municipal Securities of this issue shall mature within the maximum terms permitted by law with interest on the unpaid balance at a rate not to exceed the maximum rate permitted by law to be determined upon the sale of the Municipal Securities. The Municipal Securities shall be issued pursuant to Act 34, Public Acts of Michigan, 2001, as amended (“Act 34”).
SOURCE OF PAYMENT
The principal of and interest on the Municipal Securities will be limited tax full faith and credit general obligations of the City, payable from any available funds of the City. Pursuant to this pledge of its limited tax full faith and credit, in the event available funds of the City are not sufficient to pay the principal of and interest on the Municipal Securities, the City will be obligated to levy such ad valorem taxes upon all taxable property in the City as shall be necessary to make the payments of principal and interest on the Municipal Securities, which taxes, however, will be limited by applicable constitutional, statutory and charter limitations on the taxing power of the City.
RIGHT OF REFERENDUM
This notice is given, by order of the City Council of the City, to and for the benefit of the electors of the City in order to inform them of their right to petition for a referendum upon the question of the issuance of the Municipal Securities. The Municipal Securities will be issued, without submitting such a question to a vote of the electors, unless within 45 days after the date of publication of this notice a petition requesting a referendum upon such question, signed by not less than 10% or 15,000 of the registered electors residing within the City, whichever is the lesser, shall have been filed with the City Clerk or other recording officer of the City. In the event that such a petition is filed, the Municipal Securities will not be issued unless and until the issuance thereof shall have been approved by the vote of a majority of the electors of the City qualified to vote and voting thereon at a general or special election.
This Notice is published pursuant to the requirements of Section 517 of Act 34.

Emily Gordon, City Clerk

City of East Lansing

CP#26-363