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r <br />• <br />• <br />CITY COUNCIL <br />AGENDA ITEM 1D <br />STAFF ORIGINATOR Al Rolek <br />MEETING DATE January 26, 2015 <br />TOPIC Consider Resolution 15-08 Authorizing the Issuance of the <br />2015A Certificates of Indebtedness <br />VOTE REQUIRED Simple Majority (3/5) <br />BACKGROUND <br />The 2015 budget calls for the issuance of Certificates of Indebtedness in the amount of $198.250 to <br />be used for the purchase of capital equipment as part of our equipment replacement proms am. The <br />interest rate on the certificates will be 1.00%. <br />The Area and Unit Fund has sufficient reserves to these purchase the certificates. <br />A special levy will pay for this certificate in 2016. 2017 and 2018 and the levy proceeds will be <br />credited to the Area and Unit Fund. <br />The equipment to be funded with the 2015A Certificate of Indebtedness is listed on the attached <br />schedule. <br />RECOMMENDATION <br />Staff recommends approval of Resolution 15-08. <br />ATTACHMENTS <br />Resolution 15-08 <br />2015 Capital Equipment Replacement Schedule <br />