Fiscal Note
Adoption of this resolution would result in the inclusion of $500,000 in general obligation debt in the 2006 Capital Budget for purposes of expanding the Henry Vilas Zoo. Debt service associated with this borrowing is estimated at $70,000 in the first year of payment, gradually declining to approximately $52,000 in the tenth and final year. There is no anticipated impact upon the tax levy in 2005. A total of $150,000 for zoo improvements in 2006 is contained in the current Capital Improvement Program.
Title
Expressing support of the commitment of $500,000 in general obligation debt for the new polar bear exhibit and Children's Zoo at the Henry Vilas Zoo, pending final approval in the 2006 Capital Budget.
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Whereas, the Henry Vilas Zoo was created in 1911, when five white-tailed deer were kept at the site, and has always been free to the public as stipulated by the Vilas family when they donated the land; and
Whereas, a new, $9 million polar bear exhibit called the "Arctic Passage" is planned for completion in 2007 that will create a natural habitat for polar bears, seals, caribou, snow owls, and cranes; create an underwater viewing area for visitors; and feature a weather station to teach visitors about global weather patterns: and
Whereas, a new, $6 million Children's Zoo is also planned that will include year-round animal exhibits, a walk-through barn, a Swiss Family Robinson Tree House, an outdoor learning amphitheater, a train, and a "Conservation Carousel;" and
Whereas, under the terms of a 1983 agreement, the City currently pays 20% of annual operating costs and voluntarily shares in capital costs; and
Whereas, the Mayor has pledged $500,000 in City general obligation borrowing toward the two new exhibits at the zoo, resulting in annual debt service costs to City taxpayers of approximately $70,000; and
Whereas, the 1983 Agreement on the Operation of the Henry Vilas Zoo states that "it has been determined that the H...
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