Laserfiche WebLink
CASE # <br /> <br />SERIES 1992A AND 1992B BOND ISSUES <br />By: Sandra Ashley Helling, Finance Officer <br /> <br />Background: <br /> <br />The City has financing pending for special assessments certified in 1990 and 1991. In <br />addition, the Wood Pond Projects will require a significant cash outflow well in advance of <br />special assessment certification in 1992 (with first collection in 1993). Due to this, and an <br />opportunity to save an estimated $34,171 (present value) by refunding a 1984 General <br />Obligation Issue, Springsted, the City's financial advisor, has prepared a bonding <br />recommendation for your review this evening. <br /> <br />Mr. Bob Thistle of Springsted will be here this evening to discuss this recommendation in <br />detail. <br /> <br />Enclosed for your information is the Springsted Incorporated Recommendations - Study <br />No. 3986. <br /> <br />The resolutions entitled "Resolution Providing for the Issuance and Sale of $1,525,000 <br />General Obligation Temporary Bonds, Series 1992A" and "Resolution Providing for the <br />Issuance and Sale of $620,000 General Obligation Improvement Bonds, Series 1992B" <br />will be sent to you under separate cover. <br /> <br />Recommendation: <br /> <br />Staff will present a recommendation to the Council prior to tonight's meeting. <br /> <br />Council Action: <br /> <br />Motion to adopt Resolution//:91-12- providing for the issuance and sale of $1,525,000 <br />General Obligation Temporary Bonds, Series 1992A. <br /> <br />- and- <br /> <br />Motion to adopt Resolution #91-12-__ providing for the issuance and sale of $620,000 <br />General Obligation Improvement Bonds, Series 1992B. <br /> <br />Review Checklist: <br /> <br />Finance Officer <br />City Administrator <br /> <br />CC: 12/17/91 <br /> <br />/ <br /> <br /> <br />