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AGENDA ITEM 71 <br />• <br />STAFF ORIGINATOR: James E. Studenski, City Engineer <br />COUNCIL MEETING DATE: January 12, 2004 <br />TOPIC: Resolution No. 04 -09, Declare Intent to Bond. <br />VOTE REQUIRED: 3/5 Vote required <br />BACKGROUND: <br />The City is required to declare its intent to reimburse project costs from bond <br />proceeds prior to encumbering project costs. This is a non - binding declaration <br />that must take place in order to finance projects in this manner. The Birch <br />Street/Hodgson Road Improvements and Holly Drive Improvements projects may <br />be financed through bond proceeds. <br />OPTIONS: <br />1. Return to staff for further review. <br />2. Adopt Resolution No. 04 -09, Declare the City's Intent to Bond projects. <br />3. Not adopt Resolution No. 04 -09. <br />RECOMMENDATION: <br />Option No. 2 - Staff recommends that Resolution No. 04 -09 be adopted. <br />• <br />