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<br /> <br />Request for Action <br /> <br /> <br /> <br /> <br /> <br />To Item Number <br />Mayor and City Council 8.1 <br />Agenda Section Meeting Date Prepared by <br />General Business December 7, 2020 Lori Ziemer, Finance Director <br />Item Description Reviewed by <br />Award the Sale of General Obligation Capital Cal Portner, City Administrator <br />Improvement Plan Bonds, Series 2020A; General <br />Reviewed by <br />Obligation Capital Improvement Plan Refunding <br /> <br />Bonds, Series 2020B; and Taxable General Obligation <br /> <br />Sewer Revenue Refunding Bonds, Series 2020C <br /> <br />Action Requested <br />Adopt, by motion, the following resolutions: <br /> Resolution Awarding the Sale of General Obligation Capital Improvement Plan Bonds, Series 2020A <br /> Resolution Awarding the Sale of General Obligation Capital Improvement Plan Refunding Bonds, <br />Series 2020B <br /> Resolution Awarding the Sale of Taxable General Obligation Sewer Revenue Refunding Bonds, Series <br />2020C <br /> <br />Background/Discussion <br />On November 2, the City Council passed a resolution providing for the competitive negotiated sale of <br />$9,895,000 General Obligation Capital Improvement Plan Bonds, Series 2020A to finance the Public Safety <br />Facility expansion and a portion of Fire Station 3. <br /> <br />Resolutions were also passed for the sale of $5,970,000 General Obligation Capital Improvement Plan <br />Refunding Bonds, Series 2020B, to refund the General Obligation Capital Improvement Plan Bonds, Series <br />2010A and Series 2012A, and the sale of $7,295,000 Taxable General Obligation Sewer Revenue Refunding <br />Bonds, Series 2020C, to refund the General Obligation Sewer Revenue Bonds, Series 2014B. <br /> <br />Terri Heaton, with Baker Tilly, will present the results of the sale of the bonds. <br /> <br />Financial Impact <br />The bonds are a general obligation of the city payable by a tax levy or other sources. <br /> <br />Mission/Policy/Goal <br />Develop a sustainable and prosperous community that reflects the culture of citizens and what is important to <br />the majority. <br /> <br /> <br /> <br /> <br />The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional <br />service, and community engagement that encourages and inspires prosperity <br /> <br />