Laserfiche WebLink
REQUEST FOR COUNCEL ACTION Date-.03/10/98 <br /> Item No.: c_4 <br /> Department Approval: Manager Reviewed Agenda Section <br /> Consent <br /> Item Description,,, Resolution Provi"ding for Internal Certificate of Indebtedness of 1998 <br /> (Pofice Vehicles) <br /> Background <br /> In preparing to meet the levy limitation imposed by the Stag ofinnsota 'or fiscal 15, was <br /> determined that we could provide a small levy outside of the general levy for securing the 1998 <br /> allocation for police vehicle purchase through an internal Certificate of Indebtedness. This allowed <br /> the city to stay within the levy limitation as well as the Council's limit of 3% overall. <br /> Fiscal Implications <br /> Where will be no change or amendment necessary to the 1998 budget as the financing and the police <br /> vehicles were included. <br /> Because this Certificate is internal financing, with annual issuance and retirement, there is no effect <br /> on the City's debt position. <br /> Staff Recommendation <br /> . <br /> Staff is recommending issuance of the Certificate to complete the financing of the police vehicles for <br /> 1998. <br /> Council Action <br /> Motion approving the Resolution issuing the Certificate of Indebtedness of 1998. <br />