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• <br />• <br />• <br />AGENDA ITEM 2A <br />STAFF ORIGINATOR AI Rolek <br />MEETING DATE September 27, 2003 <br />TOPIC Consideration of Resolution 04 -142 Providing for the Issuance and <br />Sale of $1,330,000 G.O. Improvement and Utility Bonds, Series <br />2004A <br />VOTE REQUIRED <br />Simple Majority <br />The City Council has approved public improvement projects for Birch & Hodgson Street <br />Improvements, Marshan Estates Utilities, 62 "d Street Reconstruction and Holly Drive Street <br />Reconstruction. To finance the improvements to be made in these projects it is necessary to issue <br />and sell General Obligation Improvement and Utility bonds. Our financial advisor, Springsted, <br />Inc., has issued their recommendation for the issuance of $1,330,000 G.O. Improvement and <br />Utility Bonds Series 2004A. <br />If approved the sale would occur on October 25, 2004, with consideration for award by the City <br />Council at its meeting the same day. The issue would have a 15 -year term running from 2006 <br />through 2020 and would be repaid through the levy of special assessments against the benefited <br />parcels and utility revenues. <br />Staff recommendation is for the City Council to approve Resolution 04 -142 providing for the <br />issuance and sale of $1,330,000 G.O. Improvement and Utility Bonds, Series 2004A. <br />1. Adopt Resolutions 04 -142. <br />2. Refer to Staff for further review. <br />3. Deny Resolution 04 -142. <br />E; <br />!!IMENDA <br />Option 1 <br />