Title
Approval of a Resolution for the Regulation and Issuance of the General Obligation, Series 2013 Bonds.
Presented by Keith Lee, Director of Finance
Body
Item Summary:
This resolution provides for the regulation and issuance of the Series 2013 Bonds authorized by the voters on November 6, 2012. This resolution establishes the terms of the bonds, establishes the construction fund, and provides for the assessment and collection of an annual tax to pay the principal and interest. On March 11, 2013 the City's Series 2013 Bonds will be sold competitively, and the aggregate amount, annual principal amount, interest rates, and debt service schedule will be updated based on the most competitive bid.
Committee or Staff Recommendation:
On January 15, 2013 the Administration, Finance, and Recreation and Parks Committee recommended placing this item on the Mayor and Council Agenda.
Financial Impact:
Competitve pricing of the Series 2013 Bonds will be provided on March 11, 2013.
Presented by:
Keith Lee, Director of Finance