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CC Work Session 2. 1. <br />Meeting Date: 10/ 11 /2022 <br />Information <br />Title: <br />Update on Issuance of $12M Street Reconstruction Bonds <br />Purpose/Background: <br />With the ever -changing market in interest rates, and moving up the proposed sale of $12M of General Obligation <br />Street Reconstruction Bonds, staff would like to provide council with a brief update prior to the public hearing that <br />is to be held at the regular City Council meeting on October 11. <br />Two bond runs are attached to show the effect the current interest market. The first bond run is dated July 27, <br />2022 which is what the 2023 preliminary debt levy is based on and the second run is October 3, 2022 which <br />incorporates the possibility of an increase in interest rates by the Federal Treasury in November. <br />Timeframe: <br />15 minutes <br />Funding Source: <br />Responsible Party(ies): <br />Finance Director <br />Outcome: <br />Update on upcoming bond issuance. <br />Bond Run 7-27-22 <br />Bond Run 10-3-22 <br />Attachments <br />Form Review <br />Inbox Reviewed By Date <br />Brian Hagen Brian Hagen 10/06/2022 02:53 PM <br />Form Started By: Diana Lund Started On: 10/05/2022 09:24 AM <br />Final Approval Date: 10/06/2022 <br />