Item Coversheet

Council Communication

Department: Finance
Case/Project No.:
Submitted by: Finance Department / Kathy Knott 		Resolution 21-38
ITEM 4.G.		Council Action: 2/8/2021
Description

Resolution instituting proceedings to take additional action for the issuance of not to exceed $700,000 General Obligation Bonds, Series 2021 (General Corporate Purpose).

Background/Discussion

Issuance of not to exceed $700,000 General Obligation Bonds, in order to provide funds to pay the costs of; 

 

     a) The acquisition, construction, reconstruction, extension, improvement, and equipping of city utilities, city enterprises, and public improvements as defined in section 384.37, other than those which are essential corporate purposes, including roof repairs and replacements at the Mid-America Center convention center

 

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 FY22-FY26 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 FY22. 
ATTACHMENTS:
DescriptionTypeUpload Date
GO Bond ProcessOther1/29/2021
Bond Purpose RecapOther1/29/2021
Resolution 21-38Resolution2/3/2021