BACKGROUND/DISCUSSION:
On March 3, 2020 the City Council resolved to reimburse $8,500,000 for certain capital expenditures:
Knowles Drive reconstruction design/construction documents $2,500,000
Central Fire Station design and construction documents $1,200,000
North Old Decatur design and reconstruction $750,000
Sidewalk and ADA improvements $1,000,000
Boaz/Old Decatur intersection improvements $1,000,000
Saginaw Boulevard signal upgrade at McLeroy Boulevard $500,000
Bailey Boswell overpass project $1,550,000
On May 19, 2020 the City Council considered issuing debt for the construction of a Central Fire Station with an estimated cost of $15,000,000
If it is the intention of the City Council to issue the debt previously discussed, it is necessary to publish the attached notice of intention.
FINANCIAL IMPACT:
Mark McLiney of SAMCO Capital Markets, Inc will present a tax rate impact analysis and a time line for the proposed debt issue.
RECOMMENDATION:
Consider and act upon approval of a resolution directing publication of notice of intention to issue combination tax and revenue certificates of obligation; and resolving other matters related to the subject.