19-Deliberate and possibly act on certificates of obligation and refunding bond issues

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Bonds Included in the Proposed Refunding Issue The following is a listing of our outstanding eight bonds, including the original amount, the remaining principal balance, and what they were issued for. • Waterworks & Sewer System Revenue Bonds-Series 1997 $5,000,000 original issue and $2,525,000 outstanding. Proceeds from the bond sale were to be used for the purpose of paying for improvements and extensions to the City's water and sewer system plus the cost of issuance. • Waterworks & Sewer System Revenue Refunding Bonds-Series 1998 $6,905,000 original issue and $2,430,000 outstanding. Proceeds from the bond sale were to be used for the partial refunding of the Waterworks & Sewer System Bonds-Series 1992 for savings plus the cost of issuance. • Tax & Revenue Refunding Bonds-Series 1998 $5,810,000 original issue and $2,035,000 outstanding. Proceeds from the bond sale were to be used for partial refunding of the Tax & Revenue Refunding Bonds-Series 1991 far savings plus the cost of issuance. • Waterworks & Sewer System Revenue Bonds-Series 2000 $9,500,000 original issue and $7,045,000 outstanding. Proceeds from the bond sale were to be used to clean, repair, and replace water and sewer lines, plus pay for professional services and issuance costs. • Combination Tax & Revenue Certificates of Obligation-Series 2000 $6,000,000 original issue and $4,175,000 outstanding. Proceeds from the sale were to be used for streets, drainage, repair or purchase buildings including City Hall and Fire Station, improve & equip city parks, plus pay for professional services and issuance costs. • Tax & Revenue Refunding Bonds-Series 2001 $5,130,000 original issue and $1,745,000 outstanding. Proceeds from the sale were used to partially refund the City's Tax & Revenue Refunding Bond-Series 1991 for savings and pay issuance costs. • Combination Tax & Revenue Certificates of Obligation-Series 2002 $6,060,000 original issue and $4,535,000 outstanding. Proceeds from the sale were used to purchase, renovate an existing building for the police and courts functions, pay professional services, and pay issuance costs. • General Obligation Refunding Bonds-Series 2003 $7,130,000 original issue and $4,105,000 outstanding. Proceeds from the sale were used to refund the Certificates of Obligations-Series 1993 and partially refund the Certificates of Obligation-Series 1994 plus pay the cost of issuance. (I rl{=1~::~