Laserfiche WebLink
Following ame fou~ alternative actions the Council can take in <br />financing the pmoject: <br /> <br />l) Sell 10 year bonds, which would mesult in an assessed <br /> interest mate of 13 percent. <br /> <br />2) <br /> <br />Sell three year renewable and recallable bonds which <br />would result in an assessed interest rate of 11 percent. <br />If and when interset rates come down, the project could <br />be refinanced. These short term bonds could be initially <br />assessed over six years or ten years. It should be pointed <br />out that if interest rates don't drop within three years <br />and instead they go up, the City could be in a financial <br />bind, as no matter what happens, the bond holders must be <br />paid. This is unlikely, but possible. <br /> <br />3) Reject the bids and wait until next spring to ~complete the <br /> projects in hopes of lower interest rates. <br /> <br />/po <br /> <br /> <br />