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: August 8, 2022
RE:
Title
Public Hearing on Order Authorizing $60,000,000 Public Safety Improvement Bonds, Bond Order Authorizing $25,000,000 Streets, Sidewalk, and Connectivity Bonds, and Order Authorizing $12,000,000 Housing Bonds
Consider Final Adoption of the Bond Orders and Resolution Calling for a Bond Referendum
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 will conduct the public hearing on the orders for $60,000,000 Public Safety Improvement Bonds, $25,000,000 Streets, Sidewalk, and Connectivity Bonds, and $12,000,000 Housing Bonds. After the public hearing, Council will be asked to consider the adoption on second reading the bond orders approved by Council on first reading on June 27, 2022, as amended, and the passage of a resolution calling for a bond referendum on November 8, 2022.
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.
On June 27, 2022, the bond orders for th...
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