Resolution instituting proceedings to take additional action for the issuance of not to exceed $700,000 General Obligation Bonds, Series 2022 (General Corporate Purpose).

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 facilities, including parking lot improvements at Bass Pro Shop; and

b) the acquisition, construction, reconstruction, enlargement, improvement, and equipping of recreation grounds and parks, and the acquisition of real estate therefor, including parking lot construction at Eastern Hills Trail Stop Park, Phase II; and

c)  any other purpose which is necessary for the operation of the city or the health and welfare of its citizens, including the downtown improvement program,

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.

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.