On June 14, 2010, the council approved the issuance of $1,790,000 of economic development revenue bonds for Community Option Resource Enterprises Inc (COR Enterprises), which is a nonprofit social services agency that provides vocational and supported living services to adults with disabilities.  The bonds will be used to finance a portion of the costs of designing and constructing a new facility.  

The attached resolution authorizes the execution and delivery of the bonds.

The Council may:

• Approve the resolution; or
• Not approve resolution.

The bonds are special, limited obligations of the City and do not constitute any financial liability of the City or a charge against its general credit or taxing powers. 

Staff recommends that the City Council approve the attached resolution.