TO: Mayor and Members of City Council
THRU: Douglas J. Hewett, ICMA-CM, City Manager
FROM: Jay C. Toland, CMA - Chief Financial Officer/Assistant City Manager
DATE: June 27, 2022
RE:
Title
Order Authorizing $60,000,000 Public Safety Improvement Bonds,
Order Authorizing $25,000,000 Streets, Sidewalk, and Connectivity Bonds, and Order Authorizing $12,000,000 Housing Bonds
Discussions of Projected Projects
end
COUNCIL DISTRICT(S):
Council District(s)
All
b
Relationship To Strategic Plan:
Goal 4: Desirable place to live and recreate.
Executive Summary:
City Council is asked to consider the adoption of the attached bond orders for $60,000,000 Public Safety Improvement Bonds, $25,000,000 Streets, Sidewalk, and Connectivity Bonds, and $12,000,000 Housing Bonds, and to take several other actions required to proceed with related bond referendums on November 8, 2022
Staff will also be prepared to discuss projected projects (listed in detail in attached Slide Deck) and receive feedback on Council's priority list of projects.
Background:
On April 28, 2022, City Council held a special meeting to discuss unfunded needs in the City. The City Council directed staff to initiate the process to set bond referendums for November 8, 2022, for not to exceed $60,000,000 in general obligation bonds for public safety improvement capital projects, not to exceed $25,000,000 in general obligation bonds for streets, sidewalk, and connectivity capital projects, and not to exceed $12,000,000 in general obligation bonds for affordable housing capital projects and funding the Housing Trust Fund.
On May 9, 2022, the City Council adopted a preliminary findings resolution authorizing staff to submit an application to the Local Government Commission for the proposed authorization of Public Safety Improvement Bonds, Streets, Sidewalk, and Connectivity Bonds, and Housing Bonds. Subsequent to May 9, 2022, staff received further guidance from City Council to change the pro...
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