Focus Area: Economy
Staff Contact: Jamie Robichaud, Kate Messer
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title:
title
Consideration of Resolution No. 26-1068 authorizing the issuance and delivery of the principal amount of the General Obligation Temporary Notes, Series 2026-A.
Body
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recommended motion:
To approve Resolution No. 26-1068 to authorize issuance and delivery of the principal amount of General Obligation Temporary Notes, Series 2026-A.
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Summary:
As approved by the City Council on June 16th 2026, bids will be received by the City on July 21st, 2026 from prospective buyers of the General Obligation Temporary Notes, Series 2026-A. Accordingly, the best bid rates will be provided at the City Council meeting.
Series 2026-A will be used to fund 18 projects in the approximate amount of $176,968,496.
The City’s bond counsel, Gilmore & Bell, has prepared Resolution No. 26-1068 that sets the forms and details of, and services to authorize the issuance delivery of Temporary Notes Series 2026-A.
Draft copy of the above-mentioned resolution are attached. The final versions of this document will be available at the City Council meeting once bids have been received and the final bid has been determined.
Standard and Poor’s Corporation has assigned the City a rating of SP-1+ for short-term financing.
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Financial Information:
The amount of Series 2026-A Notes is approximately $178,968,496
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Attachment(s):
A: Draft Note Resolution