Consent 1.I.
Regular City Council Meeting
- Meeting Date:
- 03/12/2012
- TITLE
- Parameters Resolution for Special Improvement District 1392
- PRESENTED BY:
- Patrick M Weber
- Department:
- City Hall Administration
Presentation:
Information
PROBLEM/ISSUE STATEMENT
The Council approved a six month Bond Anticipation Note (BAN) with US Bank with the intention of doing a negotiated bond sale at a later date for the creation of Special Improvement District (SID) 1392. SID 1392 will construct park improvements to Yellowstone Family Park within Yellowstone Country Club.
The City has awarded the contracts for the project and is ready to proceed with the bond sale. The attached resolution outlines the parameters for the bonds and the sale.
The City has awarded the contracts for the project and is ready to proceed with the bond sale. The attached resolution outlines the parameters for the bonds and the sale.
ALTERNATIVES ANALYZED
The Council may:
•Approve the resolution; or
•Not approve resolution.
•Approve the resolution; or
•Not approve resolution.
FINANCIAL IMPACT
Upon approval of the resolution, the City and DA Davidson will proceed with the sale of the bonds.
RECOMMENDATION
Staff recommends that City Council approve the parameters resolution.