HomeMy Public PortalAboutAB 03-65 Water Fund Debt RestructuringCITY COUNCIL City of McCall
AGENDA BILL 216 East Park Street
Number AB 03-65 McCall, ID 83638
Date May 22, 2003
ITEM INFORMATION
SUBJECT: Water Fund Debt
Original
Agenda Date & Bill No.
Restructuring
Department/Committee/Individual
Initials
Remarks
A
Mayor / Council
P
City Manager
Originator
P
Finance Director/City
Clerk
R
Deputy City Clerk
O
Community Development
V
Police Chief
A
Public Works
L
Director of Golf & Parks Operations
COST IMPACT:
S
Recreation Director
FUNDING SOURCE:
Airport Manager
Librarian
TIMELINE: See attached schedule
City Attorney
Grant Coordinator
SUMMARY
STATEMENT: The attached summary of total debt service reflects options for restructuring debt. After reviewing the options, option #4 is the best choice and is the recommended course
of action. All options leave the DEQ State Revolving Fund loan in place. Concurrently with the restructuring, staff will develop a recommended water rate schedule for presentation
to Council. Staff is pursuing options for funding needed improvements to the water system using remaining SRF loan authorization. Costs associated with the refunding of the debt that
can be included in the SRF loan will be included.
RECOMMENDED ACTION: Approve option #4 as presented as optimum debt service restructuring option and direct the City Manager to
work with staff and bond counsel and financial advisors to restructure the water fund debt. Authorize the Mayor to sign all required documents.
RECORD OF COUNCIL ACTION
Meeting
Date
Action
May 22, 2003
Approved option #4 as presented as the optimum debt service restructuring option and direct the City Manager to work with staff and bond counsel and financial
advisors to restructure the water fund debt and authorize the Mayor to sign all required documents.
May 22, 2003
Approved option #4 as presented as the optimum debt service restructuring option and direct the City Manager to work with staff and bond counsel and financial advisors
to restructure the water fund debt and authorize the Mayor to sign all required documents.