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REQUEST FOR COUNCEL ACTION Date: 02/23/98 <br /> Item No: F-5 <br /> Department Approval: Manager Reviewed Agenda Section <br /> Reports and <br /> Recommendations <br /> Item Desen"Ptional Resolution Provi"di"ng for the Acceptance of the <br /> Lowest Bid for General Obligation Tax Increment Refunding <br /> Bonds Sen'es 1998 <br /> Background <br /> Bids were opened at 12:00 Noon on February 23, 1998 for the General Obligation Tax Increment <br /> Refunding Bonds Series 1998. A tabulation of bids and a copy of the proposed resolutions are <br /> attached. <br /> Staff Recommendation <br /> Staff is recommending the low interest cost bid of for the $13,280,000 General Obligation <br /> Tax Incremcnt Refunding Series 1998 submitted by - , be accepted. <br /> COUNCIL ACTION REQUESTED <br /> Motion to approve the attached resolutions accepting the lowest interest cost of % for the <br /> $13,,280,,000 General Obligation Tax Increment Refunding Bonds Series 1998 submitted by <br />