HomeMy Public PortalAboutAB 07-11 MURA bonding certification
c
MCALL CITY COUNCIL 216 East Park Street
c
AGENDA BILL MCall, ID 83638
Number AB 07-11
Meeting Date January 11, 2007
AGENDA ITEM INFORMATION
Approvals: Department/ Initials Remarks
SUBJECT:
Committee/Individual (Originator/
Support)
Mayor / Council
Certification related to McCall Redevelopment
City Manager originator
Agency bonding
Community Development
Treasurer
Clerk
Police Department
Public Works
Golf Operations
Parks & Recreation
Airport
COST IMPACT: n/a
Library
FUNDING SOURCE: n/a
City Attorney
Grant Coordinator
TIMELINE: ASAP
Other:
SUMMARY STATEMENT:
The McCall Redevelopment Agency bond issue is on schedule. The bond sale is set for January
10, with funding on January 25. The total amount sold will be $5,040,000. Construction of the
improvements is scheduled for this summer and fall.
Part of the required Tax Certificate related to the bond issue is a certification from the City that the
City will not issue bonds in calendar year 2007 which total more than $10,000,000, including the
MRA bonds. No bonding is budgeted in FY07, and staff does not anticipate that any bonding will
occur in the first three months of FY08 (October-December, 2007).
Attached is Exhibit B of the draft Tax Certificate. The entire draft Tax Certificate is lengthy and is
not attached. It is available for review in the City Clerk’s office. Exhibit B will be amended to reflect
that the Acting Treasurer will sign the document.
It is appropriate for the Acting Treasurer to make the required certification. Explicit authorization
and approval by Council will clarify that it is the City’s official position.
RECOMMENDED ACTION:
Authorize the Acting Treasurer to sign Exhibit B to the McCall Redevelopment Agency bond issue
Tax Certificate.
RECORD OF COUNCIL ACTION
Meeting Date ACTION