Regular 3.
Regular City Council Meeting
- Meeting Date:
- 09/14/2009
- TITLE
- Fixing the form and detail of Series 2009 sidewalk bonds
- PRESENTED BY:
- Patrick M. Weber
- Department:
- City Hall Administration
Presentation:
PROBLEM/ISSUE STATEMENT
On August 24, 2009, City Council approved a resolution awarding the negotiated sale for pooled sidewalk bonds Series 2009. Montana & Wyoming Oil Company purchased the bonds at an interest rate of 5.95%. The following resolution outlines the form and detail of the bonds.
ALTERNATIVES ANALYZED
The Council may:
- Approve the resolution fixing the form and detail of Series 2009 sidewalk bonds; or
- Not approve the resolution fixing the form and detail of Series 2009 sidewalk bonds.
FINANCIAL IMPACT
After the council approves the resolution, the bond closing will take place.
RECOMMENDATION
It is recommended that the City Council approve the attached resolution.