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AGENDA ITEM 61 <br />• STAFF ORIGINATOR: John Powell, City Engineer <br />COUNCIL MEETING DATE: April 24, 2000 <br />TOPIC: Resolution No. 00 - 44 — Declare Intent to Bond, Apollo Drive Phase 4 <br />VOTE REQUIRED: Simple Majority <br />BACKGROUND: <br />The City is required to declare its intent to reimburse project costs from bond proceeds prior to <br />encumbering project costs. This is a non - binding declaration that must take place in order to <br />finance projects in this manner. The Apollo Drive project, including future phases, may be <br />financed through bond proceeds. <br />OPTIONS: <br />•1. Return to staff for further review. <br />2. Adopt Resolution Number 00 -44 Declaring the City's Intent to Bond for the Apollo Drive <br />Phase 4 project. <br />3. Not adopt Resolution No. 00 -44. <br />RECOMMENDATION: <br />Option No. 2 - Staff recommends that Resolution Number 00 -44 be adopted. <br />• <br />