From
Becky L. Brooks, CFO
Title
General Obligation Bond Election Presentation
Presenter
Cheryl Y. DeLeon, Deputy City Manager
Becky L. Brooks, Chief Financial Officer
Amy Sprinkles, Communications and Marketing Director
Mona Lisa Galicia, City Secretary
Recommended Action
Approve
Analysis
City Manager is recommending a General Obligation Bond Election in May 2021. The election will need to be called at the first regular City Council meeting in February. The purpose of the presentation is:
1) to outline the bond election history of the city and provide a refresher on the different types of debt obligations available;
2) to provide results of a voter survey identifying the support for different elements of the bond proposition, including level of detail and dollar amounts; and
3) to present a timeline of the election process.
From this presentation, the staff will provide recommendations and ask for City Council direction regarding the language and dollar amount of the bond proposition. A final ordinance will then be drafted for formal action in February.
Financial Consideration
Costs to our counties and election administrators for election.