Laserfiche WebLink
• <br />• <br />• <br />AGENDA ITEM 1D <br />STAFF ORIGINATOR Al Rolek <br />MEETING DATE April 27, 2009 <br />TOPIC Consider Resolution 09 -26 Authorizing the Issuance of the <br />2009 Certificates of Indebtedness <br />Simple Majority (3/5) <br />VOTE REQUIRED <br />UND <br />The 2009 budget called for the issuance of Certificates of Indebtedness in the amount of <br />$250,000 to be used for the purchase of capital equipment as part of our equipment <br />replacement program. The budget was amended on March 23, 2009 to reduce the <br />amount of current levy used for equipment replacement by approximately $86,000 and <br />thereby increase the amount of 2009 certificates to $336,000. The interest rate for the <br />certificates will be 3.00 %, which is consistent with the market rate for a 3 -year certificate of <br />deposit. <br />The Area and Unit Fund has sufficient reserves to issue a loan to finance these <br />purchases. <br />A special levy will pay for this certificate in 2010, 2011 and 2012 and the levy proceeds will <br />be credited to the Area and Unit Fund. <br />The equipment to be funded with the 2009 Certificate of Indebtedness is listed on the <br />attached schedule. <br />1. Approve Resolution 09 -26 issuing the 2009 Certificates of Indebtedness. <br />2. Return to staff for further review. <br />Option 1. <br />