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CSUNCIL MEETING <br />REQUEST FOR COUNCIL ACTION DEC 1 1 1995 <br />DATE: cCfeXlflf <br />ITEM NO.: ^ <br />Dcpartmciit Approval: <br />Name Ronald A. Moorse <br />Title Citv- Administrator <br />Administrator Reviewed: <br />i'//L <br />Agenda Section: <br />Cit> Administrator's Report <br />Item Description: Award of the Sale of General Obligation Refunding Bonds <br />The City Council has authorized the sale of bonds to refund two existing bond issues to <br />take advantage of low interest rates. The sale will be by competitive bid. Bids are to be <br />received by 12:00 Noon on December 11, 1995. Based on the results of the bid process, <br />staff will provide, at the Council meeting, a recommendation and resolution awarding the <br />sale of the bonds to the best bidder. A draft of the resolution is attached for Council <br />review. <br />COUNCIL ACTION REQUESTED: <br />Motion to adopt a resolution awarding the sale of $1,910,000 General Obligation Refunding <br />Bonds of 1995. <br />Ll.