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Alternative # 1. Call for the Sale of the bonds with the bond sale to be brought forward for approval on November <br />12, 2014. The 2015 preliminary budget and levy included the issuance of debt to cover 50% of capital needs for <br />2015-2017. <br />Alternative #2. Wait for the call and sale of debt until the budget and levy are finalized in December. Interest rates <br />may rise and levy amount cannot be increased. <br />Alternative #3. Not issue debt. Look at using the city's Equipment Fund for 100% of funding noting that the fund <br />will be depleted by year 2017. <br />Funding Source: <br />2015-2017 Capital Equipment will be funded from the City's Equipment Revolving Fund and from the issuance of <br />Capital Equipment Certificate debt. <br />Recommendation: <br />Staffs recommendation is to authorize the call for the sale of the bonds and to bring the sale of the certificates <br />forward to the City Council meeting of November 12, 2014. <br />Action: <br />Approve Resolution #14-10-217 Providing for the Sale of $875,000 General Obligation Equipment Certificates, <br />Series 2014A. <br />Attachments <br />Presale Report for Issuance of $875,000 Capital Equipment Certificates <br />2015-2017 Capital Equipment Listing <br />Resolution Providing for Sale of Capital Equipment Certifcates <br />Form Review <br />Inbox Reviewed By Date <br />Kurt Ulrich Kurt Ulrich 10/09/2014 01:09 PM <br />Form Started By: Diana Lund Started On: 09/29/2014 03:39 PM <br />Final Approval Date: 10/09/2014 <br />