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05/26/1998 Council Packet
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05/26/1998 Council Packet
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City Council
Council Document Type
Council Packet
Meeting Date
05/26/1998
Council Meeting Type
Regular
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AGENDA ITEM 3 <br />STAFF ORIGINATOR: Brian Wessel <br />DATE: 5/26/98 <br />TOPIC: Resolution No 98 -01 providing for the issuance <br />and sale of $5,350,000 Lease Revenue- Bonds - - -- <br />BACKGROUND: <br />The issuance and sale of $5,350,000 in 20 -year Lease Revenue Bonds is to <br />assist in the financing of the construction of the public facilities complex in The <br />Village. The bonds will assist with the construction of the city hall, police station <br />and Early Childhood Learning Center. Revenues from the lease of the building <br />to Centennial School District at $1.2 million for 10 years for the Early Childhood <br />Center will be used to pay that portion of the bond: These bonds are not general <br />obligation bonds of either the EDA or the city. <br />The bonds will be scheduled for sale at 6 p.m. on June 22, 1998. <br />OPTIONS: <br />1. Approve Resolution No. 98 -01 <br />2. Return to staff for further consideration <br />RECOMMENDATION: <br />Option 1 <br />
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