Title
Consider an ordinance authorizing the issuance of General Obligation Bonds, Series 2024; levying an ad valorem tax in support thereof; awarding the sale of the Bonds and authorizing other matters related to the Bonds. (First Reading)*
Body
This item will award the sale of the bonds in the aggregate principal amount of $20,000,000 for paying all or a portion of the City’s contractual obligations incurred or to be incurred for:
Proposition A - Parks, Recreations and Sports - $10 million
Purpose: Design and initial construction of improvements in Old Settlers Park and expansion of the Sport Center
Proposition B - Public Safety - $10 million
Purpose: Design of improvements to the City’s Public Safety Training Center and relocation of the Central Fire Station
The proceeds will also pay for professional services including fiscal, engineering, architectural and legal fees and other such costs incurred in connection therewith including the costs of issuing the Bonds.
The projects listed above are the last major projects to be funded from the voter approved $274 million 2023 bond election.
.