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savings after the final sale has occurred on October 24, 2023, this reduction will be reflected in the final debt levy <br /> adopted in December. <br /> The remainder of the debt, $7M will be funded from the annual tax increment generated in the City's Tax <br /> Increment District#14 known as The COR. <br /> Time Frame/Observations/Alternatives: <br /> Alternatives: <br /> 1. Motion to Adopt Resolution#23-268 Providing the Issuance and Sale of$8,315,000 General Obligation <br /> Bonds, Series 2023A. <br /> 2. Motion to not Adopt Resolution#23-268 Providing the Issuance and Sale of$8,315,000 General Obligation <br /> Bonds, Series 2023A,which would be to reject the bids of the bond sale. <br /> Funding Source: <br /> The issuance of the GO bonds will be to fund the TIF 14 area improvements as outlined above and some of the <br /> Capital Equipment that was included in the 2024 Preliminary Adopted General Fund Budget. <br /> Recommendation: <br /> Staff recommends Alternative#1. <br /> Outcome/Action: <br /> Motion to Adopt Resolution#23-268 Providing for the Issuance and Sale of$8,315,000 General <br /> Obligation (GO) Bonds, Series 2023A and Levying a Tax for the Payment Thereof. <br /> Attachments <br /> S&P Ratings Report <br /> Res 23 268 <br /> Sale Day Report <br /> Form Review <br /> Inbox Reviewed By Date <br /> Brian Hagen Brian Hagen 10/19/2023 07:24 AM <br /> Diana Lund(Originator) Diana Lund 10/24/2023 03:52 PM <br /> Diana Lund(Originator) Kathy Schmitz 10/24/2023 04:01 PM <br /> Form Started By:Diana Lund Started On:09/18/2023 01:36 PM <br /> Final Approval Date:10/24/2023 <br />