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Financial Implications <br />The funds to be used are derived from revenues specifically received from the projects financed by <br />Series 21 and are reserved for payment of debt service only. There will be no effect on the City's <br />general operating budget except that future interest obligations will be decreased. <br />Staff Recommendations <br />Staff is recommending that the City Council approve the attached resolution, prepared by the City's <br />bond counsel. <br />Council Action <br />Motion to approve the attached resolution providing for the calling of certain maturities of General <br />Obligation Improvement Bonds, Series 2 1. <br />