AUTHORIZING THE ISSUANCE AND SALE OF MCDOWELL ROAD COMMERCIAL CORRIDOR IMPROVEMENT DISTRICT REFUNDING BONDS, SERIES 2018 PROPOSED ACTION: ADOPT RESOLUTION NO. 2018-1862 AUTHORIZING THE ISSUANCE, SALE AND DELIVERY OF ITS MCDOWELL ROAD COMMERCIAL CORRIDOR IMPROVEMENT DISTRICT REFUNDING BONDS, SERIES 2018, IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $35,000,000, AND NOT TO EXCEED $1,500,000 PAYMENT AMOUNT OF CERTIFICATES OF OWNERSHIP OF SUPPLEMENTAL INTEREST PAYMENTS; DELEGATING AUTHORITY TO THE CITY FINANCE DIRECTOR TO DETERMINE THE METHOD OF SALE OF THE BONDS AND CERTIFICATES; APPROVING THE FORM AND AUTHORIZING THE EXECUTION AND DELIVERY OF A PURCHASE CONTRACT RELATING TO THE BONDS AND CERTIFICATES, A BOND REGISTRAR, TRANSFER AGENT AND PAYING AGENT CONTRACT, A DEPOSITORY TRUST AGREEMENT AND CERTAIN OTHER DOCUMENTS RELATING TO AND SECURING THE PAYMENT OF THE BONDS AND CERTIFICATES; AWARDING THE BONDS AND CERTIFICATES TO THE PURCHASER THEREOF; AS APPLICABLE RATIFYING AND APPROVING THE FORM OF A PRELIMINARY OFFICIAL STATEMENT RELATING TO THE BONDS AND CERTIFICATES; AS APPLICABLE AUTHORIZING THE PREPARATION OF A FINAL OFFICIAL STATEMENT RELATING TO THE BONDS AND CERTIFICATES; APPROVING THE ASSESSMENTS ON THE ASSESSED PROPERTY IN THE CITY FOR THE PAYMENT OF THE BONDS AND CERTIFICATES; AUTHORIZING THE TAKING OF OTHER ACTIONS RELATING TO THE BONDS AND CERTIFICATES; AND DECLARING AN EMERGENCY. (Doug Sandstrom, Finance Director)

Committee

City Council Regular Meeting

Introduced

April 11, 2018

On agenda

April 23, 2018