2.1.
CC Work Session
- Meeting Date:
- 10/11/2022
Information
Title:
Update on Issuance of $12M Street Reconstruction Bonds
Purpose/Background:
With the ever-changing market in interest rates, and moving up the proposed sale of $12M of General Obligation Street Reconstruction Bonds, staff would like to provide council with a brief update prior to the public hearing that is to be held at the regular City Council meeting on October 11.
Two bond runs are attached to show the effect the current interest market. The first bond run is dated July 27, 2022 which is what the 2023 preliminary debt levy is based on and the second run is October 3, 2022 which incorporates the possibility of an increase in interest rates by the Federal Treasury in November.
Two bond runs are attached to show the effect the current interest market. The first bond run is dated July 27, 2022 which is what the 2023 preliminary debt levy is based on and the second run is October 3, 2022 which incorporates the possibility of an increase in interest rates by the Federal Treasury in November.
Timeframe:
15 minutes
Funding Source:
Responsible Party(ies):
Finance Director
Outcome:
Update on upcoming bond issuance.
Attachments
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Brian Hagen | Brian Hagen | 10/06/2022 02:53 PM |
- Form Started By:
- Diana Lund
- Started On:
- 10/05/2022 09:24 AM
- Final Approval Date:
- 10/06/2022