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The City's Financial Advisor, Dan Almon, had the following comments about bond issues: <br />1. Issuance cost on $3,000,000 would be about $48,000. <br />2. Bond issues of $5,000,000 are efficient in terms of cost of issuance. <br />3. City of Paris bonds or certificates of obligation would sell at the same interest rate, all things being <br />equal. <br />4. Essentially the timeline to sell voted bonds and CO's is the same although you must publish notice <br />of intent to sell CO's with the first publication being at least 30 days prior to the sale. For all <br />practical purposes the 30 day notice runs concurrent with the required four to five weeks it takes to <br />get to market with voted bonds. <br />5. Both bonds and CO's may be sold taac exempt or taxable depending on the use of proceeds. <br />Staff needs direction from Council on: <br />a) Whether to proceed with the project <br />b) If proceeding, what funding sources to develop, i.e. reserves, certificates of obligation, or general <br />bond election in November <br />c) If debt is to be issued, what other projects to consider including in the issue. <br />d) If debt is to be issued, what should the size of the debt issue be? <br />a 0 f) (;2 1. 7 <br />