From
Brady Olsen, Treasury and Debt Manager
Title
2021 Plan of Capital Finance for Certificates of Obligation
Presenter
Becky Brooks, Chief Financial Officer, and Brady Olsen, Treasury and Debt Manager
Recommended Action
Approve
Analysis
In order to fund the FY 2020/2021 Approved CIP along with certain other projects, we would like Council to consider the attached plan of finance. Of the ~$30 million in anticipated issuance, ~$22.5 million would be for the CIP with the remainder project based. We are still working on the final figures for these projects. With approval, the finance team will move forward with the process before taking this item back to Council for final approval on January 5, 2021. We anticipate another parameters ordinance, allowing the city greater flexibility in a changing marketplace.
Financial Consideration
We will be able to fund the initial interest payment out of our current levy.