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<br /> <br /> <br />Request for Action <br /> <br /> <br />To Item Number <br /> <br />Mayor and City Council 8.2 <br />Agenda Section Meeting Date Prepared by <br /> <br />General BusinessFebruary 5, 2018Cal Portner, City Administrator <br />Item Description Reviewed by <br />Resolution Directing Staff to Prepare for Bond Sale <br />Reviewed by <br /> <br /> <br />Action Requested <br /> <br />Direct, by resolution, staff to prepare for bond sale to finance recreation facility improvements. <br /> <br />Background/Discussion <br /> <br />The architects hired by the city to design the ice arena and field house facility have nearly completed their <br />work and are preparing bid documents to begin the project directed by the City Council. <br /> <br />The project will include two bid packages, the first to order and purchase precast walls, which require a <br />longer lead time to manufacture. The second bid package will be for the remainder of the construction <br />work. <br /> <br />In collaboration with ISD #728, construction is scheduled to begin following the school year and the <br />boys’ tennis season with the plan to have the heavy exterior construction work complete before the 2018- <br />19 school year begins. <br /> <br />Once the bids are accepted, the city will incur construction costs and the proceeds from a municipal bond <br />issuance will be required. <br /> <br />In order to maintain the project timeline and in light of Council discussion regarding the financing, staff <br />requests clear council direction to move forward. <br /> <br />The attached resolution includes direction for staff to prepare another council resolution as required by <br />state statute to initiate an election for local option sales and use tax for the next general election. <br /> <br />Financial Impact <br /> <br />N/A <br /> <br />Attachments <br /> <br /> <br /> <br />Resolution <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 />