Item Coversheet

Council Communication

Department: Finance
Case/Project No.:
Submitted by: Finance Department 		Resolution 23-40
ITEM 4.I.		Council Action: 2/13/2023
Description

Resolution instituting proceedings to take additional action for the issuance of not to exceed $600,000 General Obligation Bonds, Series 2023 (General Corporate Purpose).
Background/Discussion

issuance of not to exceed $600,000 General Obligation Bonds, in order to provide funds to pay the costs of:

a) The acquisition, construction, reconstruction, enlargement, improvement, and equipping of recreation grounds, recreation centers and parks, and the acquisition of real estate therefor, including designing a new trail stop park, and parking lot improvements at the Council Bluffs Recreation Complex; and

b) 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.

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 FY24-FY28 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 FY24. 
ATTACHMENTS:
DescriptionTypeUpload Date
FY24 CIPOther1/31/2023
FY24 CIP Supplemental InfoOther1/31/2023
GO Bond ProcessOther1/31/2023
Resolution 23-XXXResolution2/2/2023
Resolution 23-40Resolution2/7/2023