Item Coversheet

Council Communication

Department: Finance
Case/Project No.:
Submitted by: Finance Department/Danielle Bemis 		Resolution 25-75
ITEM 4.F.		Council Action: 3/24/2025
Description

Resolution instituting proceedings to take additional action for the issuance of not to exceed $875,000 General Obligation Bonds, Series 2025 (GCP-5).
Background/Discussion

issuance of not to exceed $875,000 General Obligation Bonds, in order to provide funds to pay the costs of:

a) The equipping of city enterprises and departments, including vehicles for the Mid America Center and the Parks department, 

for general corporate purposes, and that notice of the proposal to issue the Bonds and the right to petition for an election had been published as provided by Section 384.26 of the Code of Iowa.

Recommendation

This is Step 3 of the General Obligation Bonding process, which is to conduct public hearings to approve the bond purposes by project outlined in the FY26-FY30 CIP. It is in the best interest of the City to continue to move forward in the process of proposing the issuance of General Obligation Bonds to satisfy the funding requirements for capital improvement projects for FY26.
ATTACHMENTS:
DescriptionTypeUpload Date
FY26 CIPOther3/13/2025
FY26 CIP Supplemental InformationOther3/13/2025
GO Bond ProcessOther3/13/2025
Resolution 25-75Resolution3/20/2025