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CITY COUNCIL AGENDA ITEM BRIEFING SHEET <br />Submittal Date: <br />Originaring Department: <br />Presented By: <br />Agenda Item No.: <br />O1/22/10 <br />Council Date: <br />Finance <br />Gene Anderson <br />16. <br />O1/25/10 <br />RECOMMENDED MOTION: <br />Move to approve a resolution directing the City Clerk to publish a notice of intent of the City's plans to issue <br />certificates of obligation to fund costs associated with the Collegiate Drive Project. <br />POLICY ISSUE(S): <br />Fiscal management <br />The City plans to issue $3,005,000 in combination tax and revenue certificates of obligation for the purpose of <br />funding the improvement and expansion of South Collegiate Drive, making improvements to the frontage access <br />of South Collegiate Drive, and paying legal, fiscal, engineering, and architectural fees connected to the project. <br />This resolution directs the City Clerk to publish the required notice of intent regarding this debt issue. Financial <br />advisor Dan Almon with Southwest Securities, Inc. and bond attorney Dan Culver with McCall, Parkhurst & <br />Horton, LLP will be present to discuss the details of this debt issue. <br />BOARD/COMMISSION RECOMMENDATION: <br />None <br />EXHIBITS: <br />Resolution <br />ACTION: <br />BUDGET INFO: <br />❑ Financial Report ❑ Minute Order <br />Expense <br />$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 />None <br />REVIEWED AND APPROVED BY: <br />* Administration E City Clerk ❑ Community Development ❑ EMS/IT E Finance ❑ Fire <br />❑ Municipal Court E Legal ❑ Library ❑ Police ❑ Eng./Public Works ❑ Utilities <br />City of Paris - Revised 2/04/08 <br />