Agenda Item Title:
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Administrative Services Department presenting a general obligation bond timeline and draft resolution, as related to the rebuild of Sandy Fire Station 31, for Council consideration
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Presenter:
Brian Kelley, Administrative Services Director
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Description/Background:
On December 6, 2022 the City Council adopted Resolution 22-57C (attached), In part, this resolution directed City Administration to prepare a parameters resolution and ballot proposition for the issuance of a general obligation bond to fund the rebuild of Fire Station 31. In addition to those documents, a general timeline is also attached to this agenda item.
Fiscal Impact:
As written, the draft resolution and ballot proposition call for the issuance of no more than $16,000,000 in general obligation bonds to be voted on during a general bond election on November 7, 2023.
Further action to be taken:
This is an informational report. Should the Council desire to move forward with a bond election, the additional steps (as outlined in the attached timeline) will need to be taken. The first being the adoption of a Resolution calling for a bond election. This must occur prior to August 24, 2023.
Recommended Action and/or Suggested Motion:
Recommendation
The Council may provide input or ask questions regarding the potential bond election.
The Council may make amendments to the attached documents.
The Council may direct staff regarding whether and how to move forward with the bond election.