Regular 4.1.
Regular City Council Meeting
- Meeting Date:
- 03/08/2010
- TITLE
- Resolution Awarding Special Improvements Bonds 1389
- PRESENTED BY:
- Patrick M Weber
- Department:
- City Hall Administration
Presentation:
PROBLEM/ISSUE STATEMENT
The City Council has previously approved the authorization for the sale of bonds relating to Special Improvement District 1389. The bond sale amount was approved for $212,000 but the total amount to finance has been adjusted due to lower construction costs. This resolution recommends award of the sale of bonds totaling $182,000 for the financing of water, sanitary sewer, storm drain and street improvements for Clubhouse Way between Greenbriar Road to Cherry Hills Road.
ALTERNATIVES ANALYZED
The Council may:
- Approve the bid award; or
- Not approve the bid award
FINANCIAL IMPACT
Bids on $182,000 for bonds will be received March 8, 2010 and a report will be made at the Council meeting.
RECOMMENDATION
Staff recommends that City Council approve the resolution awarding the sale of the bonds.