Resolution instituting proceedings to take additional action for the issuance of not to exceed $8,500,000 General Obligation Bonds, Series 2022 (Essential Corporate Purpose).

Issuance of not to exceed $8,500,000 General Obligation Bonds in order to provide funds to pay the costs of; 

a)  the equipping of the fire department; and

b)  the rehabilitation and improvement of parks already owned, and facilities, equipment, and improvements commonly found in city parks; and

c) the acquisition, installation, and repair of sidewalks and pedestrian underpasses and overpasses, and the acquisition of real estate needed for such purposes; and

d) refunding of outstanding general obligation indebtedness, including General Obligation Bonds, Series 2014A,

for essential corporate purposes, and that notice of the proposal to issue the Bonds had been published as provided by Section 384.25 of the Code of Iowa.

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 FY23-FY27 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 FY23.