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SH"L+E <br /> w <br /> REQUEST FOR COUNCIL ACTION <br /> Date: 12/12/11 <br /> Item No.: 12 . a <br /> Department Approval City Manager Approval <br /> Item Description: Award the Sale of the City's 2011 Bonds to Finance the Construction of a new <br /> Fire Station and Park Improvements <br /> BACKGROUND <br /> On November 21, 2011 the City Council took formal action to delay the previously-schedule bond award <br /> 3 date from November 28, 2011 to a later date in December. The Council further directed Staff to set a new <br /> 4 date based on optimal market conditions. <br /> 5 <br /> 6 Earlier this month,City Staff set a new sale date of December 12,2011. Bids on the bonds will be received <br /> 7 on that morning, with an award taking place later that evening at the City Council meeting. <br /> „;p <br /> 9 POLICY OBJECTIVE <br /> '10 The issuance of bonds to finance the construction of a new fire station and park improvements is consistent <br /> 1,1 with the goals established by Imagine Roseville 2025, and prior Council directives. <br /> 1 d? FINANCIAL IMPACTS <br /> '1 3 The financial impacts from the bond sale will be presented at the Council meeting pending the results of the <br /> '1"Yr^ bid award. <br /> '1 5 STAFF RECOMMENDATION <br /> '1 6 At the City Council meeting, Staff will recommend the Council approve the attached resolution awarding <br /> 17 the sale of the 2011 Bonds. <br /> '1 8 REQUESTED COUNCIL ACTION <br /> '19 Motion to approve the attached resolution awarding the sale of the City's 2011 Bonds. <br /> 10 <br /> Prepared by: Chris Miller,Finance Director <br /> Attachments: A: Resolution awarding the sale of the City's 2011 Bonds. <br /> Page 1 of 1 <br />