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DATE: May 21, 2018 <br /> <br />TO: Honorable Mayor and City Councilmembers <br /> <br />FROM: Dave Perrault, City Administrator <br /> <br />SUBJECT: Utility Bonding <br /> <br />Budgeted Amount: Actual Amount: Funding Source: <br />N/A N/A N/A <br /> <br />Council Should Consider <br /> <br />The Council should provide further direction on bonding decisions. <br /> <br />Background <br /> At the City Council meeting on May 14, 2018, the City Council approved new utility rates <br />following the results of the utility rate study conducted by Ehlers. As part of the study, Ehlers is <br />also recommending the City issue bonds to ensure sufficient funds to pay for upcoming capital <br />projects. The City Council requested staff bring forward proposed bonding amounts for a future <br />discussion. Attached are the scenarios for issuing varying levels of debt at three different <br />scenarios. The three levels are below: <br /> <br />AGENDA ITEM –1D <br /> <br /> <br />MEMORANDUM <br />