HomeMy Public PortalAboutAgenda Bill Ord 721 Bonds for LID4CITY COUNCIL City Of McCall
AGENDA BILL PO Box 986
Number McCall, Id 83638
Date
ITEM INFORMATION
SUBJECT:
Original Agenda Date & Bill No.
Department/Co
mmittee/Individual
Initials
Remarks
Ordinance No. 721
A
Mayor / Council
P
City Manager
P
City Clerk / Treasurer
originator
R
City Attorney
O
City Engineer
V
P & Z Administrator
COST IMPACT: None Current
A
Public Works
FUNDING SOURCE: Assessments against LID 4
Property
L
Golf Course
S
Parks
& Recreation
TIMELINE: It is critical that this be adopted 3-12-98
Other
SUMMARY STATEMENT: The assessment roll for LID No. 4 was confirmed on Jan 22.
The period for prepayment of assessments ended February 22.
The face amount of the bonds required to redeem the interim warrants outstanding, to fund the bond reserve and to pay
the costs of bond issuance are now known.
At this writing, the final terms of the purchase offer are still being negotiated and will be available at the meeting, if not sooner.
Interest
on the interim financing continues to accrue until the bonds are sold; therefore it is essential that the bonds be sold as soon as possible, in order to prevent a fund deficit
RECOMMENDED
ACTION: Please adopt Ordinance No. 721 under suspension of the rules requiring three readings and reading in full.
RECORD OF COUNCIL ACTION
Meeting Date
Action