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COUNCIL MEETINQ <br />MAR 23 1998 <br />REQUEST FOR COUNCIL ACTION <br />etlYOFORONO <br />DATE: March 20, 1998 <br />ITEM NO: Qu <br />Department Approval: <br />Name Ron Moot je <br />Title City Administrator <br />Administrator Reviewed:Agenda Section: <br />City Administrator’s <br />Report <br />Item Description: Authorization of the Execution and Delivery of a First Amendment to the <br />Lease-Purchase Contract with the HRA for the City Facilities - Resolution <br />The City Council has authorized staff and the City's bond consultant to proceed to obtain bids for <br />the sale of bonds to enable the advance refunding of the bonds used to finance the construction of <br />the City facility. The bids will be received and reviewed early afternoon on Monday, March 23. <br />Based on the bids received, the bond consultant will provide a recommendation as to whether to <br />award the sale of the bonds. <br />The advance refunding of the bonds used to finance the City facilities '’uires an amendment to the <br />lease-purchase contract between the City and the City's HRA to reflect jie replacement of the initial <br />bonds with the refunding bonds. In order to accomplish this, it is necessary for the City Council to <br />adopt a resolution authorizing the execution and delivery of a first amendment to the lease-purchase <br />contract with the HRA. The necessary resolution is attached for Council action. <br />COUNCIL ACTION REQUESTED: <br />Motion to adopt the attached resolution authorizing the execution and delivery of a first amendment <br />to the le’se-purchase contract between the City and the City's HRA. <br />PSTANIND HRA