Print Back to Calendar Return
    15.    
City Council Regular
Meeting Date: 06/18/2019  
Subject:    Consider Resolution 19-64, Providing for the Sale of $6,840,000 General Obligation Improvement and Utility Bonds, Series 2019A
From: Francine Hanson, Finance Director

INTRODUCTION
Staff recommends that a bond issue be sold on July 16, 2019.
DISCUSSION
A bond issue is being proposed to be sold on July 16, 2019 to fund the following:

G.O. Improvement Bonds in the amount of $3,815,000.  This will finance the City share of the following projects:
 
City Project 19-1, 19-2, and 19-3 Street Reconstruction

Since the above projects will also replace water mains in the project areas, Water Revenue Bonds in the amount of $3,025,000 are also being proposed.  Both of the issues will be repaid over ten years.  A tax levy and special assessments will be required to repay the Improvement Bonds and water revenues will pay for the Water Revenue Bonds.
RECOMMENDATION
Staff recommends authorization of Resolution 19-64 Providing for the Sale of $6,840,000 General Obligation Improvement and Utility Bonds, Series 2019A.

Attachments
Resolution 19-64 Providing for the Sale of Bonds

AgendaQuick©2005 - 2019 Destiny Software Inc., All Rights Reserved