Consent 1.K.
Regular City Council Meeting
- Meeting Date:
- 09/13/2010
- TITLE
- Fixing the form and details for SID 1388 bond sale
- PRESENTED BY:
- Patrick M. Weber
- Department:
- City Hall Administration
Presentation:
PROBLEM/ISSUE STATEMENT
A negotiated sale was held on August 23, 2010 for the sale of the Special Improvement District 1388 bonds. D.A Davidson purchased the bonds at a rate of 4.9%.
The resolution outlines the form and details of the bond issue.
The resolution outlines the form and details of the bond issue.
ALTERNATIVES ANALYZED
The Council may:
- Approve the resolution; or
- Not approve resolution.
FINANCIAL IMPACT
The bonds for Dorothy Lane improvements will be paid by property owners over a 15 year period.
RECOMMENDATION
It is recommended that the City Council approve the resolution fixing the form and detail of the bond issue.