Consent 1.N.
Regular City Council Meeting
- Meeting Date:
- 07/14/2014
- TITLE
- Authorizing the Issuance and Calling for a Negotiated Sale for Sidewalk Bonds
- PRESENTED BY:
- Patrick M. Weber
- Department:
- City Hall Administration
Presentation:
PROBLEM/ISSUE STATEMENT
Two sidewalk projects, WO 09-20 and, WO 13-02 will be pooled together for a bond sale. W.O. 09-20 was for curb/gutter, sidewalk, drive approach, and driveway improvements for lots which did not already have those improvements along Rimrock Road from Forsythia Boulevard to Shiloh Road. WO 13-02 was for miscellaneous improvements done at various locations throughout the City. The total amount of the bonds will be approximately $395,000. Upon approval of the resolution, the negotiations can proceed for the sale of the bonds.
ALTERNATIVES ANALYZED
The Council may:
- Approve the resolution; or
- Not approve the resolution and find another funding source or because the work has been completed, Public Works would have to pay for the work.
FINANCIAL IMPACT
The financial impact will be determined after the bond sale. The interest will be determined during negotiations but will not exceed 5%.
RECOMMENDATION
Staff recommends that the Council approve the attached resolution that authorizes a negotiated sale for the indicated projects.