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AGENDA ITEM <br />reduced from $160,000 to $120,000. The variance between the interest savings and the <br />net savings is the estimated bond issuance costs associated with refunding bonds. <br />3. Cost. There is a net savings of $160,000 to this action. It does require paying of an <br />additional $1,425,000 in debt service payments in the current year. This impacts cash <br />flow that will be recovered over the next six years. <br />4. Staff Recommendation. Staff recommends a motion to direct staff to prepare a Call <br />Notice for the 2010A bonds. <br />COUNCIL ACTION REQUESTED <br />Motion to direct staff to prepare a call notice for the 2010A bonds. <br />Exhibits: <br />A. Refunding Bond Analysis <br />Prepared By: JJU Reviewed By: -1V Approved By: -TV <br />