HomeMy Public PortalAboutAB 08-75 Idaho Bond Bank & USBank approvalsMcCALL CITY COUNCIL
AGENDA BILL
Number
Meeting Date
216 East Park Street
McCall, ID 83638
AB 08-75
April 10, 2008
AGENDA ITEM INFORMATION
SUBJECT:
Idaho Bond Bank and US Bank financing
Approvals: Department/
Committee/Individual
Initials
Remarks
(Originator/
Support)
Mayor /Council
City Manager
originator
Community Development
Treasurer
Clerk, Deputy City Clerk
Police Department
Public Works
Golf Operations
COST IMPACT: n/a
Parks & Recreation
FUNDING SOURCE: n/a
Airport
Library
TIMELINE: ASAP
City Attorney
Grant Coordinator
SUMMARY STATEMENT:
The Wausau judgment financing is proceeding as scheduled.
of which will be used to satisfy the judgment. They
reflecting the terms of their participation.
Revenue bonds will be sold by the Bond Bank.
Bank. The Bond Bank has requested that the City
acceptance.
US Bank is prepared to purchase a Warrant, the proceeds
have requested that the City sign the attached `letter of interest',
The Idaho Bond Bank has accepted the City's application.
The proceeds from the bond sale will be used to repay US
sign the attached `comfort letter', reflecting the terms of their
RECOMMENDED ACTION:
Approve the letter of interest' from US Bank and the `comfort letter' from the Idaho Bond Bank, and
authorize the Mayor to sign both documents.
RECORD OF COUNCIL ACTION
Meeting Date
ACTION