| | | | | | | | Meeting Date:
| 6/1/2021
| Staff Contact:
| Kim Quin
Finance Director
| Agenda Items:
| (6)
| E-mail:
| kquin@saginawtx.org
| | | | Phone: | 817-230-0332 |
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SUBJECT:
Consideration and Action regarding authorization of the sale of $9,000,000 in General Obligation Bonds
BACKGROUND/DISCUSSION:
Voters in Saginaw approved three bond propositions on May 1, 2021. Bond propositions include: $37,550,000 for street and roadway improvements, $18,700,000 for a new library, and $11,200,000 for park improvements and a new senior center. The proposed $9,000,000 bond sale will include $6,800,000 for Knowles Drive Phase 1, $1,500,000 for library design, and $700,000 for senior center design.
FINANCIAL IMPACT:
A financial analysis and proposed timetable will be presented to the City Council by SAMCO Capital Markets.
RECOMMENDATION:
Staff recommends approval of issuing $9,000,000 in voter approved general obligation bonds. |
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