Regular 3.
Regular City Council Meeting
- Meeting Date:
- 04/12/2010
- TITLE
- Fixing the form and detail of SID 1389
- PRESENTED BY:
- Patrick M. Weber
- Department:
- City Hall Administration
Presentation:
PROBLEM/ISSUE STATEMENT
On March 8, 2010, City Council approved a resolution awarding the bond sale for Special Improvement District 1389. Royal Johnson purchased the bonds at an interest rate of 6.00%. The attached resolution outlines the form and detail of the bonds.
ALTERNATIVES ANALYZED
Council may:
- Approve the resolution
- Not approve the resolution
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.