Agenda Item Title:
Title
Consideration for adoption of a resolution authorizing the issuance and sale of not more than $8,000,000 aggregate principal amount of sales tax revenue bonds, series 2026; authorizing the posting of a notice of public hearing and bonds to be issued; authorizing and approving a supplemental indenture, a bond purchase agreement and other documents required in connection therewith; authorizing the taking of all other actions necessary to the consummation of the transactions contemplated by the resolution; and related matters.
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Presenter:
Brian Kelley, Administrative Services Director
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Description/Background:
The City has been exploring the acquisition of additional space to address current needs. As a result the City has begun the process of purchasing the "Arbor Building," located adjacent to City Hall. Administration provided information related to the possible purchase of the facility to the City Council during the January 13, 2026 Council Meeting, where Council provided direction to staff to bring back a bond parameters resolution for the council to consider.
Further action to be taken:
Following approval of Resolution 26-05C, a public haring will be scheduled for February 10, 2026. Please review the attached calendar of events for additional information and a more detailed timeline.
Recommended Action and/or Suggested Motion:
Recommendation
Motion to adopt Resolution #26-05C, authorizing the issuance and sale of not more than $8,000,000 aggregate principal amount of sales tax revenue bonds, series 2026; authorizing the posting of a notice of public hearing and bonds to be issued; authorizing and approving a supplemental indenture, a bond purchase agreement and other documents required in connection therewith; authorizing the taking of all other actions necessary to the consummation of the transactions contemplated by the resolution; and related matters.