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AGENDA RECOMMENDATION |
7.A.
City Council Regular Meeting
- Meeting Date:
- 05/11/2026
Agenda Item:
Resolution approving the sale of General Obligation Improvement and Utility Bonds, Series 2026A, in the approximate amount of $14,620,000.
Recommendation/Action(s):
Adoption of the attached resolution.
Summary:
- The 2026A Bond Issue will finance approximately nine projects as well as various petition projects, resurfacing projects, and alley projects.
- The estimated size of the Street Improvement Component of the Bond is $7,740,000.
- The estimated size of the Utility Component of the Bond is $6,880,000.
- The estimated True Interest Cost (TIC) is projected at 3.204%.
- The term is 10 years.
- The projects included have been identified in the Capital Investment Plan for fiscal year 2024 & 2025.
- Bond issuance includes all capitalized interest and bond issuance costs.
- The bid Tally Sheet (prepared by Baker Tilly) will be provided prior to the meeting.