8.2.A. SR 02-21-2012 - Laserfiche WebLink

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REQUEST FOR ACTION TO ITEM NUMBER Ma or and Ci Council 8.2 A AGENDA SECTION MEETING DATE PREPARED BY General Business Febru 21, 2012 Tim Simon, Finance Director ITEM DESCRIPTION REVIEWED By Resolution Awarding the Sale of $7,300,000 General Obligation Cal Portner, Ci Administrator Capital Improvement Plan Bonds, Series 2012A REVIEWED BY ACTION REQUESTED The City Council is asked to adopt a resolution awarding the sale of $7,300,000 General Obligation Capital Improvement Plan Bonds, Series 2012A fixing their form and specifications; directing their execution and delivery; and providing for their payment. BACKGROUND/DISCUSSION On January 17, 2012, the City Council held a public hearing and adopted a Capital Improvement Plan for the issuance of $7,300,000 General Obligation Capital Improvement Plan Bonds, Series 2012. Mark Ruff of Ehlers and Associates will be at the meeting to present the results of the sale of the. General Obligation Capital Improvement Plan Bonds, Series 2012A for the public works facility project. Bids will be received until noon on February 21, 2012. In addition, staff held a rating call with Standard & Poor's on February 9, 2012, the results of the rating call will be presented at the Council meeting. At the time of this memo preparation, Standard & Poor's has not released the report. FINANCIAL IMPACT The bonds will be repaid from the Government Building Fund and no tax levy is anticipated for the repayment of the principal and interest. ATTACHMENTS ^ A resolution awarding the sale of $7,300,000 General Obligation Capital Improvement Plan Bonds, Series 2012A fixing their form and specifications; directing their execution and delivery; and providing for their payment. Action Motion by Second by Vote Follow Up rowEa€a e~ N:\Public Bodies\City Council\Council RCA\Agenda Packet\02-21-2012\2012Abonds memo.docx