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City Council Regular Meeting
Business Meeting: 10/05/2017
The City's FY 2018 Capital and Special Projects Plan, which City Council adopted on June 20, 2017, budgets for the issuance of bonds to pay for several of the capital projects. If expenditures are incurred for these projects before the bonds are issued and proceeds are received, the attached Reimbursement Resolution will allow the use of bond proceeds as reimbursement. At a later date, City Council will be asked to take other formal actions to authorize and issue the bonds. Bonds are expected to be issued in December 2017.
The FY 2018 bonds are expected to be issued in December 2017 and will fund the following approved capital projects:
Staff recommends City Council adopt the attached Resolution of Official Intent to Reimburse Expenditures with Proceeds of a Borrowing.
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