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CITY OF CENTERVILLE <br />REQUEST FOR <br />COUNCIL ACTION <br />Agenda Item # Department: Requested Council Meeting Date: <br />December11,2019 <br />Administration/Finance <br />VIII.4 <br />TITLE OF ISSUE: <br />AdoptResolutionCalling2015ABonds <br />BACKGROUND AND SUPPLEMENTAL INFORMATION: <br />StaffisbringingforwardaresolutionpreparedbyNorthlandSecuritiestocallthe2015AbondsonFebruary1, <br />2020.ThisbondissuepaidfortheconstructionofCommerceDrive.Nowthatthelotshavebeensold,there <br />aresufficientfundsonhandtopayoffallthebondsandaccruedinterest.ThetotalamountdueonFebruary1 <br />willbetheregularlyscheduledbondpaymentof$120,000alongwiththe$980,000ofbondspayablefrom <br />2021-2025.Wealsowilloweinterestof$10,155.Thisisinconformancewiththeplanputintoplacein2018 <br />whentheCityCounciladjustedthedebtserviceleviestoeliminatethespikethatwouldhaveoccurredin2020 <br />withoutanyadjustments. <br />COST AND SOURCE(S) OF FUNDING: <br />Taxlevyandpropertysales <br />REQUESTED COUNCIL ACTION: <br />MotiontoadoptResolution19-0XXCalling2015ABonds. <br />SUPPORTED DOCUMENTS ATTACHED <br />Motion By: ____________________________________ <br /> Resolution Ordinance Contract Minutes Plan Map <br />Second By: ____________________________________ <br />X <br />Vote Record: Aye Nay <br /> _____ <br />Other (specify) ____________ <br /> _____ _____ Love <br /> _____ _____ Paar <br />ResolutionCalling2015ABonds <br />_______________________________________________________________ <br /> _____ _____ Koski <br /> _____ _____ Montain _______________________________________________________________ <br />Administration Department Use: <br />Refer to: _________________________________ <br />Consent <br /> Tabled Until: ______________________________ <br /> Regular <br /> Other: ___________________________________ <br />77 <br /> <br />