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Next Steps: <br /> • City Council will review tonight <br /> • YMCA will pass a resolution in support of the refinancing <br /> • Report back to the EDA the results of the sale or rejection of any sales by the pricing committee <br /> Financial Impact <br /> At current rates, refunding the bonds will yield at a minimum a net present value savings of over 8%. This <br /> should result in approximately $850,000 in savings over the next 20 years. The parameters resolution <br /> allows for a 5% savings which would still result in $550,000 of present value savings or$680,000 total. <br /> Attachments <br /> • Pre-Sale Report <br /> • A resolution providing for the sale of General Obligation Refunding Bonds, Series 2013A; fixing <br /> their form and specifications; directing their execution and delivery; and providing for their <br /> payment <br /> Action Motion by Second by Vote <br /> Follow Up <br /> N:\Public Bodies\City Council\Finance\Tim\21112\YMC Arc fundingbondspresalereport.doc <br />