HomeMy WebLinkAbout2.c. Bond IssueAGENDA ITEM: Bond Issues
AGENDA SECTION:
Discussion
PREPARED BY: Jeff May, Finance Director
AGE t 1E 2
ATTACHMENTS: None
APPROVED BY: j
RECOMMENDED ACTION: Discussion /Update only.
ROSEMOUNT
CITY COUNCIL
City Council Work Session Date: August 10, 2005
EXECUTIVE SUMMARY
BACKGROUND
This item is on the agenda to give the Council an update on the status of our next bond issues. We will be
issuing debt to construct Water Tower #4 and to refinance the debt on Fire Station #1 (1996A). We will
have a G 0 Water Revenue issue for the water tower and a G.O Fite Station Refunding issue for the Fire
Station #1. The refunding has a net present value benefit to the City of approximately $77,000 (based on
the prelnxunary projections
The items will be on the Council Agendas on September 6` to set the sales and on October 4` to award
the bids on the sales.