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1-~ <br />1 - REQUEST FOR ACTION <br />R.i~rer <br />TO ITEM NUMBER <br />Ma or and Ci Council 6.4. <br />AGENDA SECTION MEETING DATE PREPARED BY <br />Administration December 5, 2011 Tim Simon, Finance Director <br />ITEM DESCRIPTION REVIEWED By <br />Resolution Calling a Public Hearing on a Capital Improvement Cal Portner, Ci Administrator <br />Plan and Issuance Of Bonds REVIEWED BY <br />ACTION REQUESTED <br />Council is asked to consider a Resolution Calling a Public Hearing on a Capital Improvement Plan and <br />Issuance of Bonds <br />BACKGROUND/DISCUSSION <br />The Public Works Committee is continuing to work with RJM Construction and the 292 Design Group <br />on the public works facility project. Earlier this year the Council approved a transfer in the amount of <br />$2.75 million from the Liquor Store to the Government Building Fund for the project. The remaining <br />amount will be General Obligation Capital Improvement Plan Bonds. The only action requested tonight <br />is to call for the public hearing on the bonds. <br />FINANCIAL IMPACT <br />The bonds will be repaid from the Government Building Fund and no tax levy is anticipated for the <br />repayment of the principal and interest. <br />ATTACHMENTS <br />Resolution Calling a Public Hearing on a Capital Improvement Plan and Issuance Of Bonds <br />ACt10(1 Morton by Second by Vote <br />Follow Up <br />~~^E~flr er <br />N:\Public Bodies\Ciry Council\Council RCA\Agenda Packet\12-05-2011\PublichearingPWbonds[1].docx <br />