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l <br />REQUEST FOR COUNCIL ACTION <br />I A <br />Department Approval <br />Item Description.- Award the Sale of Equipment Certificates <br />Date.- 08/25/08 <br />Item No..- 12.a <br />City Manager Approval <br />1 BACKGROUND <br />2 On July 28,, 2008, the City Council established a date of sale for the issuance of $,2.5 million in equipment <br />3 certificates to finance the construction of a geothermal refrigeration system at the Ice Arena. Bids on the <br />4 equipment certificates will be received on the morning of August 25, 2008, with an award taking place that <br />5 evening at the City Council meeting. <br />6 POLICY OBJECTIVE <br />"7 The issuance of equipment certificates to finance the construction of a geothermal refrigeration system for <br />8 the Ice Arena was previously approved by the City Council. <br />9 FINANCIAL IMPACTS <br />1('.); The estimated financial impact will be made available at the City Council meeting, pending the bid award. <br />11 STAFF RECOMMENDATION <br />12 At the City Council meeting, Staff will recommend the Council approve a resolution awarding the sale of <br />13 equipment certificates. <br />'14 REQUESTED COUNCIL ACTION <br />Motion to approve the attached resolution awarding the sale of equipment certificates to finance the <br />16 replacement of the Ice Arena refrigeration system. <br />'1 "7 <br />Prepared by: Chris Miller., Finance Director <br />Attachments: A: Resolution awarding the sale of equipment certificates. <br />Page I of I <br />