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Page 1 of 1 <br /> <br />UNFINISHED BUSINESS – 11A <br /> <br />MEMORANDUM <br /> <br />DATE: June 25, 2018 <br /> <br />TO: Honorable Mayor and City Councilmembers <br /> Dave Perrault, City Administrator <br /> <br />FROM: Gayle Bauman, Finance Director <br /> <br />SUBJECT: Resolution Authorizing the Issuance and Awarding the Sale of 2018A General <br />Obligation Utility Revenue Bonds <br /> <br /> Budgeted Amount: Actual Amount: Funding Source: <br /> N/A N/A N/A <br /> <br />Council Should Consider <br /> <br />Motion to adopt the attached Resolution 2018-045 awarding the sale of General Obligation <br />Utility Revenue Bonds, Series 2018A. Pending a favorable recommendation from Ehlers & <br />Associates. Authorize the Finance Director to make all necessary budget adjustments to account <br />for the new bonds. <br /> <br />Background <br /> <br />On May 29, 2018, the Council gave preliminary approval for the sale of $2,600,000 of General <br />Obligation Utility Revenue Bonds. <br /> <br />Discussion <br /> <br />Ehlers & Associates has solicited proposals for the sale of the bonds and on June 25, 2018, bids <br />will be opened and a tabulation of the proposals will be presented. The lowest bid will be <br />recommended to the Council for approval. <br /> <br />Attachment <br /> <br />Attachment A: Resolution 2018-045