City Council Meeting Date: May 1, 2018
To: Mayor and City Council
From: Ben Martig, City Administrator
Brenda Angelstad, Finance Director
Title
Consider Resolution providing for the Sale of $4,215,000 General Obligation Improvement Bonds, Series 2018A for the NAFRS project
Body
Action Requested:
The Northfield City Council approves the attached Resolution providing for the Sale of $4,215,000 General Obligation Improvement Bonds, Series 2018A.
Summary Report:
It is requested that the City Council approve the resolution authorizing the sale of bonds to finance the NAFRS Fire Hall Expansion Project.
Nick Anhut with Ehlers will be in attendance at the meeting to present the background documents and recommendations.
Alternative Options:
Choose not to finance the NAFRS Fire Hall Expansion Project. Staff does not recommend this option.
Financial Impacts:
For more detail regarding annual debt payments, see attachments.
Tentative Timelines:
May 15, 2018 - Council Consideration of Resolution Awarding of Bonds