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03-23-1998 Council Packet
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03-23-1998 Council Packet
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00UNCLMEET1NQ <br />MAR 23 1998 <br />REQUEST FOR HRA ACTION CIIYOFOBONO <br />DATE: March 20, 1998 <br />ITEM NO: ^ <br />Department Approval: <br />Name Ron Moorse <br />Title City Administrator <br />Administrator Reviewed: <br />A <br />Item Description: Authorization of the Issuance and Awarding of the Sale of Public Facilities <br />Revenue Refunding Bonds, Series 1998; and Authorization of a First <br />Supplemental Indenture and a First Amendment to Lease-Purchase Contract - <br />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. If the recommendation of the bond consultant is to award the sale of <br />the bonds, and if the City Council and the HRA accept the recommendation of the bond consultant, <br />the City Council and the HRA must each adopt a resolution relating to the issuance of the bonds <br />and/or the amendment of the lease-purchase contract between the City and the HRA. <br />The resolution to be adopted by the HRA is to authorize the issuance and awarding of the sale of <br />Public Facilities Revenue Refunding Bonds, Series 1998; and to authorize a First Supplemental <br />Indenture and a First Amendment to the Lease-Purchase Contract between the City and HRA. This <br />resolution is attached for HRA action. <br />HRA ACTION REQUESTED: <br />Motion to adopt the attached resolution authorizing the issuance and awarding of the sale of Public <br />Facilities Revenue Refunding Bonds, Series 1998; and authorizing a First Supplemental I.-^.denture <br />and a First Amendment to Lease-Purchase Contract. <br />BONDSALB HIM
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