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reconstruction bonds by unanimous vote of its membership present. <br />Like a Capital Improvement bond, the Street Reconstruction bond is not required to have a referendum, but a <br />reverse referendum is allowable. If a petition bearing the signatures of at least 5 percent of the votes cast in the last <br />general election is filed with the City Clerk within 30 days after the public hearing regarding the bonds <br />(November 11, 2022), the bonds may not be issued unless approved by voters. <br />Notification: <br />A schedule of events outlining the timeframe of the bonding process is attached. <br />Observations/Alternatives: <br />#1. Motion to Adopt Resolution #22-228 Calling for Public Hearing on Street Reconstruction Plan Bonds and <br />Proposal to Adopt a Street Reconstruction Plan <br />#2. Motion to not Adopt Resolution #22-228 at this time <br />Recommendation: <br />Staff recommends Alternative #1 as this is only a request for a public hearing on the debt issuance and street plan. <br />Preliminary approval of any debt issuance is not until October 11, 2022. <br />Action: <br />Motion to Adopt Resolution #22-228 Calling for a Public Hearing on the Intention to Issue General Obligation <br />Street Reconstruction Plan Bonds and the Proposal to Adopt a Street Reconstruction Plan <br />Reso#22-228 Call for Public Hearing <br />Bonding Schedule of Events <br />Attachments <br />Form Review <br />Inbox Reviewed By Date <br />Brian Hagen Brian Hagen 09/22/2022 12:00 PM <br />Form Started By: Diana Lund Started On: 08/30/2022 01:18 PM <br />Final Approval Date: 09/22/2022 <br />