| | | | | | | | Council Communication
Department: Finance
Case/Project No.:
Submitted by: Kathryn Knott | Resolution 20-107
ITEM 5.B. | Council Action: 4/20/2020 |
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| | | | | | | | Description
Resolution Authorizing the Redemption of Outstanding General Obligation Bonds, Series 2012C dated November 28, 2012 |
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| | | | | | | | Background/Discussion
The City issued $14,880,000 General Obligation Bonds, Series 2012C on November 38, 2012. The balance of the bonds which remain, $6,950,000, are being refunded to lower interest cost which should drive a net cost savings of approximately $275,000. |
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| | | | | | | | Recommendation
Approve resolution for bond redemption |
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