ANKENY CITY COUNCIL

Regular Agenda

May 4, 2020
5 : 30 PM
Gary Lorenz, Mayor
Mark Holm, Mayor Pro tem
Council Members: Bobbi Bentz, Jeff Perry, Kelly Whiting, Kerry Walter-Ashby
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ORIGINATING DEPARTMENT: COUNCIL GOAL:
City Manager High Performing City Organization: Financially Sound, Providing Service Value
ACTION REQUESTED:
Resolution
LEGAL:
Item Reviewed by Legal Counsel
SUBJECT:
Redemption of Outstanding General Obligation Refunding Bonds, Series 2012B
EXECUTIVE SUMMARY:
The outstanding General Obligation Refunding Bonds, Series 2012B are callable in the amount of $5,835,000 on June 1, 2020.
FISCAL IMPACT: Yes

Proceeds of the General Obligation Bonds, Series 2020A are being used to current refund on June 9, 2020, the General Obligation Refunding Bonds, Series 2012B in the amount of $5,835,000.  

Total savings of the refunded General Obligation Refunding Bonds, Series 2011A and 2012B is estimated at $358,399.
CITY MANAGER'S RECOMMENDATIONS:
PREVIOUS COUNCIL/COMMISSION/BOARD ACTION(S):
PUBLIC OUTREACH EFFORTS:
ACTION REQUESTED:

Action: <span>Consider motion to adopt&nbsp;</span><strong>RESOLUTION&nbsp;</strong><span>authorizing the redemption of outstanding General Obligation Refunding Bonds, Series 2012B, of the City of Ankeny, State of Iowa, dated May 30, 2012, and directing notice be given.</span>
ADDITIONAL INFORMATION:
ATTACHMENTS:
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Resolution