ANKENY CITY COUNCIL

City Council Agenda

March 6, 2023
5 : 30 PM
Mark Holm, Mayor
Bobbi Bentz, Mayor Pro tem
Council Members: Jeff Perry, Joe Ruddy, Todd Shafer, Kelly Stearns
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ORIGINATING DEPARTMENT: COUNCIL GOAL:
City Manager Exercise Financial Discipline
ACTION REQUESTED:
Resolution
LEGAL:
Item Reviewed by Legal Counsel
SUBJECT:
Proposed Issuance of Not to Exceed $14,000,000 General Obligation Bonds (PH 2023-20)
EXECUTIVE SUMMARY:
The not to exceed $14,000,000 General Obligation Bonds (for essential corporate purposes) are being proposed to fund the 2023 Capital Improvement Program. 
FISCAL IMPACT: Yes
The proposed General Obligation Bonds (for essential corporate purposes) will be repaid with property taxes, specifically those collected through the City's debt service levy and a small portion will be abated by storm water revenues.
 
CITY MANAGER'S RECOMMENDATIONS:
Recommend instituting proceedings to take additional action for the issuance of not to exceed $14,000,000 General Obligation Bonds (ECP).
PREVIOUS COUNCIL/COMMISSION/BOARD ACTION(S):
The 2023-2027 Capital Improvement Program and financial plan were presented and reviewed by the City Council at the November 7, 2022 and November 14, 2022 Council Action Planning Sessions.
PUBLIC OUTREACH EFFORTS:
ACTION REQUESTED:

Action: Consider motion to adopt RESOLUTION instituting proceedings to take additional action for the issuance of not to exceed $14,000,000 General Obligation Bonds (ECP).
ADDITIONAL INFORMATION:
ATTACHMENTS:
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Resolution