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You cannot bond for an amount higher than what is listed in the CIP document, so the higher amount included in <br />the CIP is just a precautionary factor. <br />Observations/Alternatives: <br />Alternative #1: Motion to Adopt Resolution #20-253 authorizing approval of the issuance of GO Capital <br />Improvement Plan Bonds in an amount not to exceed $10,000,000 and adopting the City of Ramsey Capital <br />Improvement Plan (for GO CIP Bonding Projects only) for the years 2020 through 2024. <br />Alternative #2: Motion to not adopt Resolution #20-253 at this time <br />Funding Source: <br />The Public Works Campus is proposed to be funded with the following: <br />Water Utility Fund: $2,736,000 <br />Sewer Utility Fund: $2,736,000 <br />Street Light Utility Fund: $ 250,000 <br />Storm Utility Fund $ 500,000 <br />Landfill Fund $1,200,000 <br />Facility Fund $1,000,000 <br />Internal Loan - Sewer Fund $1,000,000 <br />CIP Bond $9,935,000 <br />Recommendation: <br />Staff recommends alternative #1 as this is the authorization to issue debt with final approval of the acceptance of <br />the bond sale terms at the regular City Council meeting of December 8, 2020. <br />Action: <br />Motion to approve Resolution #20-253 giving preliminary approval to the issuance of GO Capital Improvement <br />Plan Bonds in an amount not to exceed $10,000,000 and adopting the City of Ramsey's Capital Improvement Plan <br />(for GO CIP bonding projects only) for the Years 2020 through 2024. <br />Reso #20-253 Approve Issue Debt & Adopt CIP <br />2020-2024 CIP for PW Campus <br />Presale Report <br />Attachments <br />Form Review <br />Inbox Reviewed By Date <br />Kurt Ulrich Kurt Ulrich 10/22/2020 11:04 AM <br />Form Started By: Diana Lund Started On: 10/12/2020 11:56 AM <br />Final Approval Date: 10/22/2020 <br />