Title
Consider approval of an Ordinance authorizing discharge and redemption of a portion of the City's General Obligation Refunding Bonds, Series 2005; approving an escrow agreement; providing an effective date; enacting other provisions relating to the subject, and authorizing the Mayor to sign.
Summary
See attached memorandum.
Fiscal Impact:
The funds necessary to create this escrow will be provided by the General Fund, Undesignated Fund Balance. The bonds will be refunded on the earliest call date, and the funds will be replaced as the land sales occur.
Staff Recommendation:
The Finance Department recommends approval.
Goal Icon:
Sustainable City Government