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R SEVILLE <br /> REQUEST FOR COUNCIL ACTION <br /> Date: 11/21/11 <br /> Item No.: <br /> Department Approval City Manager Approval <br /> 4: AA <br /> Item Description: Revise the Sale Date for the City's 2011 Bonds to Finance the Construction of a <br /> new Fire Station and Park Improvements <br /> BACKGROUND <br /> On October 24,2011,the City Council established a November 28,2011 date of sale for the issuance of the <br /> City's 2011 Bonds which will be used to finance a portion of the construction of a new fire station and park <br /> improvements. Due to extenuating circumstances, Staff recommends that the sale date be delayed to <br /> z. December 5th or later. <br /> The attached resolution provides the necessary language to delay the bond sale date. The Council is asked <br /> to authorize City Staff to select the sale date as long as the date occurs before the end of December, to <br /> accommodate changing circumstances. <br /> ? POLICY OBJECTIVE <br /> The issuance of bonds to finance the construction of a new fire station and park improvements is consistent <br /> :; with the goals established by Imagine Roseville 2025, and prior Council directives. <br /> FINANCIAL IMPACTS <br /> The financial impacts from the bond sale will be presented at the Council meeting pending the results of the <br /> bid award. <br /> STAFF RECOMMENDATION <br /> Staff recommends the Council approve the attached resolution setting a new date of sale for the 2011 <br /> Bonds. <br /> 23 REQUESTED COUNCIL ACTION <br /> Motion to approve the attached resolution setting a new date of sale for the City's 2011 Bonds. <br /> 2 <br /> Prepared by: Chris Miller,Finance Director <br /> Attachments: A: Resolution setting a new date of sale for the City's 2011 Bonds. <br /> Page 1of1 <br />