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<br /> <br />REQUEST FOR ACTION <br /> <br />To <br />Ci Council <br />Agenda Section <br />Administration <br />Item Description <br />Resolution Providing For The Issuance And Sale of $3,135,000 <br />General Obligation Improvemenr Bonds, Series 2007C. <br /> <br />Meeting Date <br />une 4, 2007 <br /> <br />Item Number <br />7.4 <br />Prepared by <br />Tim Simon, Finance Director <br />Reviewed by <br />Lori ohnson, Ci Administrator <br />Reviewed by <br /> <br />Action Requested <br />It is requested that the Mayor and City Council adopt resolution 07-_ Providing For The Issuance <br />And Sale Of $3,135,000 General Obligation Improvement Bonds, Series 2007C, Pledging Special <br />Assessments For The Security Thereof And Levying A Tax For The Payment Thereof. <br /> <br />Background/Discussion <br />Mark Ruff of Ehlers and Associates will be at the Council meeting to present the results of the sale of the <br />General Obligation Improvement Bonds of $3,135,000, Series 2007C, for street improvements to <br />Deerfield 3'" Addition and Irving Avenue. <br /> <br />Bids for this bond sale will be received on June 4, 2007. A conference call with Moody's was held on <br />Wednesday, May 30 and Moody's maintained the At rating for all the outstanding debt of the City. <br /> <br />Financial Impact <br /> <br />These bonds will be repaid with tax levy and special assessments. <br /> <br />Attachments <br />· Resolution 07- _ Providing For The Issuance And Sale Of $3,135,000 General Obligation <br />Improvement Bonds, Series 2007C, Pledging Special Assessments For The Security Thereof And <br />Levying A Tax For The Payment Thereof. <br />. Moody's rating analysis. <br /> <br />Council Action <br /> <br />Motion by_ <br /> <br />Second by _ <br /> <br />Vote <br /> <br />Follow Up <br /> <br />C\Documents and Settings\jrniller\Local Settings\Temporary Internet Files\OLK3E\2007CG 0 Bondssalc.doc <br />