Consent 1.K.
Regular City Council Meeting
- Meeting Date:
- 07/12/2010
- TITLE
- Fixing the Form and Detail of the 2010A Airport Refunding Bonds
- PRESENTED BY:
- Patrick M Weber
- Department:
- City Hall Administration
Presentation:
PROBLEM/ISSUE STATEMENT
On June 14, 2010 the Council authorized the refunding of the Airport revenue bonds. The attached resolution prescribes the terms and conditions for the issuance of the Airport Refunding Bonds Series 2010A . The resolution does contain blanks because the purchase price of the bonds will be determined on July 8. Once the price has been determined, the resolution will be completed.
ALTERNATIVES ANALYZED
The Council may:
- Approve the resolution: or
- Not approve the resolution
FINANCIAL IMPACT
A debt savings will be achieved by refunding the airport bonds. The final savings will be determined when the bonds are priced.
RECOMMENDATION
It is recommended that the City Council approve the attached resolution.