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<br /> <br />CITY COUNCIL <br />AGENDA ITEM 1 E <br /> <br /> <br />STAFF ORIGINATOR Al Rolek <br /> <br />MEETING DATE Jan uary 28 , 201 3 <br /> <br />TOPIC Consider Resolution 1 3 -08 Authorizing the Issuance of the 20 1 3 <br /> Certificates of Indebtedness <br /> <br />VOTE REQUIRED Simple Majority (3/5) <br /> <br /> <br /> <br /> <br />The 20 1 3 budget call s for the issuance of Certificates of Indebtedness in the amount of $1 93 ,000 to be used <br />for the purchase of capital equipment as part of our equipment replacement program. The interest rate on <br />the certificates will be 1 .00%. <br /> <br />The Area and Unit Fund has sufficient reserves to issue a loan to finance these purchases. <br /> <br />A s pecial l ev y will pay for this certificate in 20 1 4 , 201 5 and 201 6 and the levy proceeds will be credited to <br />the Area and Unit Fund. <br /> <br />The equipment to be funded with the 20 1 3 Certificate of Indebtedness is listed on the attached schedule. <br /> <br /> <br /> <br /> <br />Staff rec ommends approval of Resolution 1 3 -08. <br /> <br />ATTACHMENTS <br /> <br />Resolution 13 -08 <br />201 3 Capital Equipment Replacement Schedule <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />BACKGROUND <br />RECOMMENDATION