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File #: ID 20-0079    Version: 1 Name:
Type: Resolution Status: Passed
File created: 1/2/2020 In control: City Council
On agenda: 1/21/2020 Final action: 1/21/2020
Title: Resolution Providing for the Sale and Issuance of Not to Exceed $42,000,000 General Obligation Public Improvement Bonds, Series 2020B
Attachments: 1. 20-0079 RES 2020B GO Sale and issuance 1 21 20.pdf

 

Title

Resolution Providing for the Sale and Issuance of Not to Exceed $42,000,000 General Obligation Public Improvement Bonds, Series 2020B

Body

Council Priority: Ensure Fiscal Stewardship, Transparency, & Accountability

 

Department: Finance and Legal

Council District: All

 

Public Hearing: n/a

Advertising Date/By: n/a

 

Contact 1 and Phone: Richard Lusk, 373-2077

Contact 2 and Phone: Charles Watts, 373-2320

 

PURPOSE:

In 2016, voters approved $126 million in bonds for Housing, Community and Economic Development, Parks and Recreation, and Transportation. The City issued $40 million bonds in 2018 and plans to issue $50 million bonds February 2020, as follows:

 

                     $  8.0 million Housing (per 2020A Series Bonds)                                                                            

                     $20.0 million Community and Economic Development    

                     $13.5 million Parks and Recreation                                                                               

                     $  8.5 million Transportation                                                                                                          

 

The remaining $36 million bonds will be issued in 2022.

 

RECOMMENDATION / ACTION REQUESTED:

City Council is being requested to adopt a resolution providing for the sale and issuance of not to exceed $42,000,000 General Obligation Public Improvement Bonds, Series 2020B.