HomeMy WebLinkAbout20100419 - VI-08
MEMO
TO: Honorable Mayor and City Council Members
FROM: Charlene A. Stark, Finance Director
RE: Special Meeting
DATE: April 16, 2010
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The Finance committee met on March 29 Refunding of the joint maintenance facility
bonds was discussed and it was determined to go forward with the process. A
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resolution to set the sale date will be on the next council meeting of May 3. Because of
the timing required for the set sale date resolution, getting the sale completed, and on
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May 17 there is already some bonds being issued that would be competing in nature it
was advised by Springsted to hold our sale on another day. If two or more bonds are
being sold on the same day of virtually the same type and size it could cause
competition and thus higher interest costs to the City.
If you should have any questions, please feel free to contact me.
Recommended Council Action
Schedule an additional special City council meeting to accept the sale of the refunding
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bonds for the joint maintenance facility for Monday May 24 at 6:00 p.m.