Title
Amending the City's 2015 Capital Improvement Budget to reflect the issuance of the Series 2015A General Obligation Capital Improvement Bonds.
Body
WHEREAS, on February 2, 2015, City Council adopted RES 15-397 preliminarily approving the Series 2015A General Obligation Capital Improvement Bonds and on April 8, 2015 approved RES 15-616 awarding the sale of the bonds which closed on May 5, 2015; and
WHEREAS, the 2015A bonds funds the 2015 Capital Improvement Budget as well as the cost of issuance; and
WHEREAS, sending and financing adjustments to the budget are necessary to reflect the actual sale results;
WHEREAS, the Mayor, pursuant to Section 10.07.1 of the Charter of the City of Saint Paul, does certify that there are available for appropriations of $10,988,660 in the 2015 Capital Improvement Budget and;
THEREFORE BE IT RESOLVED, that the Council of the City of Saint Paul, upon recommendation of the Mayor, that $10,988,660 is available for appropriation in the 2015 Capital Improvement Budget, and said budgets, as heretofore adopted by Council, is hereby further amended by the particulars as specified in the attached financial analysis.