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it LOW <br />164' fty M*'J <br />AIS I I I , <br />111 <br />Date.1 1/13/7.0013 <br />Item No: IX. All <br />Departiwe Mger Arovd: Agnd Secto.- <br />, 2n Approval : ana pp e ea in <br />M <br />11111111� IIIIIIIIIIII D� M U, M.k Mrs M.I. lM 'VMM"Vw� all W-1- TM <br />[13 <br />BlacIrlerround <br />In, November,I 2002,1 the citizens of' Roseville approved by referendum the <br />issuance of $i9.,7 <br />million "in General Obligation Bonds to fumcie the, construction, of a Public safety addition, to <br />City Hall, and, renovation olf'thei Public Works Buildm*g. <br />In, December, 20O2, the City Council agreed to structure the, bonds, to M*clude a, 15-year payback <br />0 a <br />pen , old vvith an option, 10-yearl call provision. ne call provision allows the City to payoff the <br />bonds M'i 10 years, or at any time after that, if funds arei aval" lable., <br />To, comply wi'th all, legal requ"ements, the City Council is asked to foirinally authorize th-ii <br />4i <br />issuan,ce of General Obligation Bonds, establish the temis, and conditions of'the offering, and to <br />establish the date, and time of recei'vM'g bids. Specific action 'is noted oeilow., <br />I I "ll be able to, maintain I'L4!� <br />By outsourlg some ot these,, bond isslutance responsibliffifies.1 the Oty Wi <br />41 0 <br />current s�ch,edule for 1"issuffig the bonds and take, advantage of historically low borrowing cos�ts. <br />I "Wifies 'll be offset by staffmg vacancies withim, th(.- <br />The cost ofoutsourc' these responsi 11 wil <br />Fm'ancel Department. <br />