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CITY COUNCIL <br />AGENDA ITEM 1D <br /> <br /> <br />STAFF ORIGINATOR Al Rolek <br /> <br />MEETING DATE January 26, 2015 <br /> <br />TOPIC Consider Resolution 15-08 Authorizing the Issuance of the 2015A <br /> Certificates of Indebtedness <br /> <br />VOTE REQUIRED Simple Majority (3/5) <br /> <br /> <br /> <br /> <br />The 2015 budget calls for the issuance of Certificates of Indebtedness in the amount of $198,250 to be used for the <br />purchase of capital equipment as part of our equipment replacement program. The interest rate on the certificates will be <br />1.00%. <br /> <br />The Area and Unit Fund has sufficient reserves to these purchase the certificates. <br /> <br />A special levy will pay for this certificate in 2016, 2017 and 2018 and the levy proceeds will be credited to the Area and <br />Unit Fund. <br /> <br />The equipment to be funded with the 2015A Certificate of Indebtedness is listed on the attached schedule. <br /> <br /> <br /> <br /> <br />Staff recommends approval of Resolution 15-08. <br /> <br />ATTACHMENTS <br /> <br />Resolution 15-08 <br />2015 Capital Equipment Replacement Schedule <br />BACKGROUND <br />RECOMMENDATION