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Meeting Date: 1/27/93 <br /> Agenda Item: P -3 <br /> CITY OF FALCON HEIGHTS <br /> REQUEST FOR COUNCIL CONSIDERATION <br /> ITEM DESCRIPTION: Proposed resolution calling outstanding <br /> General Obligation Tax Increment Bonds of <br /> 1985, Series B for redemption <br /> SUBMITTED BY: Steve Apfelbacher, Fiscal Consultant <br /> 4-------- <br /> Tom Kelly, City Accountant <br /> EXPLANATION /SUMMARY: <br /> Due to the present lower interest rates it seemed advisable to <br /> consider the refinancing of some of the city's debt. It is being <br /> recommended that the G.O. Tax Increment Bonds of 1985, Series B, <br /> (Stratford project) be called on March 1, 1993 for obligations <br /> maturing in the years 1994 and 1995. The interest rate for those <br /> years would be 7.0% and 7.15% respectively if not called. <br /> ATTACHMENT: <br /> Proposed Resolution R -93 -7 <br /> ACTION REQUESTED: <br /> Adoption of Resolution R -93 -7 calling outstanding G.O. TIF <br /> bonds of 1985, Series B, for redemption. <br />