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• <br />• <br />• <br />CITY COUNCIL <br />AGENDA ITEM lE <br />STAFF ORIGINATOR Al Rolek <br />MEETING DATE January 28, 2013 <br />TOPIC Consider Resolution 13 -08 Authorizing the Issuance of the 2013 <br />Certificates of Indebtedness <br />VOTE REQUIRED 3/5 <br />BACKGROUND <br />The 2013 budget calls for the issuance of Certificates of Indebtedness in the amount of $193,000 to <br />be used for the purchase of capital equipment as part of our equipment replacement program. The <br />interest rate on the certificates will be 1.00%. <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 2014, 2015 and 2016 and the levy proceeds will be <br />credited to the Area and Unit Fund. <br />The equipment to be funded with the 2013 Certificate of Indebtedness is listed on the attached <br />schedule. <br />REOMMENDA' <br />Staff recommends approval of Resolution 13 -08. <br />ATTACHMENTS <br />Resolution 13 -08 <br />2013 Capital Equipment Replacement Schedule <br />