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• <br />AGENDA ITEM 1C <br />STAFF ORIGINATOR Al Rolek <br />MEETING DATE January 23, 2006 <br />TOPIC Consider Resolution 06 -06 Authorizing the Issuance of the 2006 <br />Certificates of Indebtedness <br />Simple Majority (3/5) <br />VOTE REQUIRED <br />BACKGROUND <br />The 2006 budget called for the issuance of Certificates of Indebtedness in the amount of <br />$307,000 to be used for the purchase of capital equipment as part of our equipment <br />replacement program. <br />The Area and Unit Fund has sufficient reserves to issue a loan to finance these purchases. <br />A Special Levy will pay for this certificate in 2007, 2008 and 2009 and the levy proceeds will be <br />credited to the Area and Unit Fund. <br />The equipment to be funded with the 2006 Certificate of Indebtedness is listed on the attached <br />schedule. <br />OPTIONS <br />1. Approve Resolution 06 -06 issuing the 2006 Certificates of Indebtedness <br />2. Return to staff for further review <br />RECOMMENDATION <br />Option 1. <br />