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&CH;H=?#IGGCNN?? -CHON?MȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚ*OFS ǷțǴDzdzǺ <br /> <br />Public Safety Plan - Public Works Shops Financing <br />E. <br /> <br />Staff updated the Committee on the schedule of events for issuance of up to $20 million limited <br />tax general obligation bonds for the acquisition of property and construction of improvements <br />for the new Public Works shops project in the Public Safety Plan. On June 18, 2018 the City <br />Council authorized staff to move forward with a financing scenario that includes $30 million <br />with financing over a 20-year term. Bond proceeds will be used to complete property <br />purchases, reimburse expenditures previously incurred, and construct shops improvements. <br />The bond sale is scheduled for July 31, 2018, and closing for August 14, 2018. Councilmember <br />Robertson asked if the City could proceed with bond issuance and then decide not to buy a <br />piece of property. Staff replied that there is flexibility in the bond ordinance and the funds could <br />be used for other components of the Public Safety Plan. DISCUSSION ONLY. <br /> <br /> <br />III.MISCELLANEOUS <br /> <br /> <br />Adjourned at 7:05 p.m. <br /> <br /> Committee Chair Approval <br /> <br />-CHON?M <S ,( <br />