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AGENDA ITEM 3B <br />STAFF ORIGINATOR: Mary M. Vaske <br />DATE: May 20, 1998 <br />TOPIC: Resolution 98 -77 and 98 -78 providing for the issuance and <br />sale of $4,310,000 G.O. Improvement Bonds 1998A and <br />$2,000,000 G.O. Improvement Bonds 19988. <br />The City Council reviewed the upcoming construction projects in March. The projects <br />funded by the 1998A bonds are Otter Lake Road Realignment, Lake Drive Trunk <br />Utility, Phase 1, and Lilac Trunk Utility. The project funded by the 1998B bond is Lake's <br />Addition Reconstruction. The bond terms are both for 15 years and are funded by <br />special assessments and property taxes. <br />1. Approve the resolutions as proposed. <br />2. Revisit the projects for more information <br />Option 1 - <br />