The City needs to sell bonds to finance Special Improvement Districts 1408, 1410, and 1413.  Special Improvement District 1408 will construct street, storm drain, curb and gutter and sidewalk improvements for Radford Square and a portion of Shawnee Drive.  Special Improvement District 1410 will construct streetlights an park improvements serving Annafeld Subdivision 2nd filing.  Special Improvement District 1413 will construct street, curb and gutter, water, sanitary sewer and storm drain improvements to Winged Foot Road and Greenbriar Road.    

Upon approval of this resolution, the City can proceed with the sale of the bonds.

City Council may:

• Approve, or;
• Disapprove and find another funding source

The full impact will be determined after the bond sale, as the interest rate will be determined during negotiations.  Staff recommends that the City Council approve the attached resolution that authorizes a $1,516,000 negotiated bond sale for the indicated projects.   

Staff recommends approval of the resolution authorizing the issuance and calling for a negotiated sale for 2020 Pooled Special Improvement Bonds.