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.