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CITY COUNCIL AGENDA ITEM BRIEFING SHEET <br />Submittal Date: <br />Originating Department: <br />Presented By: <br />Agenda Item No.: <br />11 /03/09 <br />Council Date: <br />Finance <br />Gene Anderson <br />18. <br />12/14/09 <br />RECOMMENDED MOTION: <br />Move to authorize the refunding of Series 1998, 2000, 2001 general obligation bonds and series 1997, <br />1998, and 2000 waterworks and sewer system revenue bonds. <br />POLICY ISSUE(S): <br />Fiscal management. <br />At the November 9, 2009 City Council meeting, Council questioned whether or not the City could save <br />money on refunding the 1998 and 2001 bond series. At that time Finance Director told City Council <br />that he would ask Dan Almon to be present at the December 14th meeting to answer questions. <br />At the same meeting, City Council did authorize staff to move forward on refunding the bonds that <br />could save the City money. <br />BOARD/COMMISSION RECOMMENDATION: <br />None <br />EXHIBITS: <br />Description of bonds included in refunding; P& I Payment Comparison - WW & SS Issues; P& I <br />Payment Comparison - GO Issues <br />ACTION: <br />BUDGET INFO: <br />F-I Financial Report ~ Minute Order <br />Expense <br />$NA <br />❑ Department Report ❑ Resolution <br />Budgeted Amt. <br />$NA <br />❑ Presentation ❑ Ordinance <br />y'I'D Actual <br />$NA <br />❑ Public Hearing ❑ Other <br />Acct. Name <br />NA <br />Acct. Number <br />NA <br />FISCAL NOTES: <br />See accompanying exhibits <br />REVIEWED AND APPROVED BY: <br />Z Administration Z City Cletk ❑ Community Development ❑ EMS/IT Z Finance ❑ Fire <br />❑ Municipal Court ❑ Legal ❑ Library ❑ Police ❑ Eng./Public Works ❑ Utilities <br />City of Paris Revised 2/04/08 <br />