ANKENY CITY COUNCIL

Regular Agenda

May 18, 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 2010C 
EXECUTIVE SUMMARY:
The outstanding General Obligation Refunding Bonds, Series 2010C are redeemable on June 1, 2018 or any date thereafter.  
FISCAL IMPACT: Yes
Fund balance from the debt service, water and sewer funds will be used to prepay on July 1, 2020 the $655,000 principal payment due on June 1, 2021.  The prepayment represents interest savings of $21,288.
CITY MANAGER'S RECOMMENDATIONS:
PREVIOUS COUNCIL/COMMISSION/BOARD ACTION(S):
PUBLIC OUTREACH EFFORTS:
ACTION REQUESTED:

Action: Consider motion to adopt <strong>RESOLUTION </strong>authorizing the redemption of outstanding General Obligation Refunding Bonds, Series 2010C, of the City of Ankeny, State of Iowa, dated May 15, 2010, and directing notice be given.
ADDITIONAL INFORMATION:
ATTACHMENTS:
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Resolution