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11-1-A.
New Business  
City Council Meeting
City Manager  
Meeting Date:
08/26/2019
Note Ordinance - Land Purchase - $3,750,000
Submitted By:
Jim Bell
Department:
Division:
Accounting
Council Committee Review?:
Council Work Session
Date(s) of Committee Review:
8/20/2019
Audio-Visual Needs:
None
Emergency Legislation?:
Yes
Motion/Ordinance/
Resolution No.:
2019-O-2392
Agenda Item Description or Legislation Title
An Ordinance Providing For The Issuance And Sale Of Notes In The Maximum Principal Amount Of $3,750,000, In Anticipation Of The Issuance Of Bonds, For The Purpose Of Paying The Costs Of Acquiring Approximately 51 Acres Of Real Property Near The Intersection Of Brandt Pike And Executive Boulevard And Providing For The Site Preparation Thereof, All In Support Of Economic Development And Job Creation Within The City, And Declaring An Emergency.
(first reading)
Purpose and Background
The legislation attached was prepared by Squire, Patton & Boggs acting as bond counsel for the City of Huber Heights so that notes can be issued for the purchase of real property.
Fiscal Impact
Source of Funds:
TED Fund
Cost:
$10,500
Recurring Cost? (Yes/No):
No
Funds Available in Current Budget? (Yes/No):
Yes
Financial Implications:
Issuance costs of $10,500 would be needed for the land purchase out of the Transformative Economic Development Fund in 2019.
Attachments
Ordinance
2019-O-2392
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