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Alternative #1. Authorize the issuance and sale of $875,000 Equipment Certificates to lowest bidder as presented <br />by Ehlers on November 12. <br />Alternative #2. Do not issue the debt in 2014 and wait until next year after the 2015 budget and levy have been <br />adopted in December. (2-month process to issue debt). Interest rates 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 issuance and sale of the certificates to the lowest bidder as presented by <br />Ehler's on November 12, 2014. <br />Action: <br />Approve Resolution #14-11-235 authorizing the issuance and awarding the sale of $875,000 General Obligation <br />Equipment Certificates of Indebtedness, Series 2014A. <br />Attachments <br />14-11-235 Resolution Awarding Sale of Capital Equipment Certificates <br />Presale Report for Issuance of $875,000 Capital Equipment Certificates <br />2015-2017 Capital Equipment Listing <br />Form Review <br />Inbox Reviewed By Date <br />Kurt Ulrich Kurt Ulrich 11/06/2014 03:05 PM <br />Form Started By: Diana Lund Started On: 10/29/2014 11:04 AM <br />Final Approval Date: 11/06/2014 <br />