Laserfiche WebLink
« <br />MAr 1 2 2003REQUEST FOR COUNCIL ACTION <br />Cil r L»r unuivu <br />DATE: May 12,2003 <br />ITEM NO: 17 <br />Department Approval:Administrator Reviewed:Agenda Section: <br />Naaic RonMoorse L/1//U City Administrator ’s <br />THk City Administrator Rqwrt <br />Item Dcacription: Consider Rcfundin^fof 1992 Sewer Bonds <br />Attached is information from Carolyn Drude, the City’s Bond Consultant, regarding the refunding <br />of the 1992 Sewer Bonds. The information shows that the refunding would save an estimated <br />$46,479 over a period of five years. This savings is net of all costs of issuance. The Bond <br />Consultant has indicated these savings are sufficient to merit moving forward with a refunding. If <br />the Council decides to proceed with the refunding, it is necessary to authorize the Bond Consultant <br />to solicit proposals for the sale of the refunding bonds, for consideration by the Council at its May <br />27 meeting. <br />COUNCIL ACTION REQUESTED: <br />Motion to authorize City staff to work with Ehlers & Associates, Inc. to solicit proposals for the sale <br />of $885,000 General Obligation Sewer Improvement Bonds, and report the results to the Council for <br />consideration at its meeting of May 27,2003. <br />1