Title
Amending the City's operating budget to reflect the final sale details resulting from the issuance of the Sewer Revenue Bonds, Series 2022B.
Body
WHEREAS, on February 2, 2022, the City Council adopted RES 22-56 preliminarily approving the 2022 Bond Sale, and on August 17, 2022, adopted RES 22-1001 awarding the sale of the bonds which closed on September 14, 2022; and
WHEREAS, the spending and financing budgets need to be adjusted in the City’s sewer fund to reflect the final results of the sale; and
WHEREAS, the Mayor, pursuant to Section 10.07.1 of the Charter of the City of Saint Paul, certifies that there are unencumbered funds of $8,185,387 in the City’s operating budget that may be appropriated; now, therefore, be it
RESOLVED, by the Council of the City of Saint Paul, upon recommendation of the Mayor that $8,185,387 is available for appropriation in the City Operating Budget, that said budget, as heretofore adopted by Council, is hereby further amended by the particulars as specified in the attached financial analysis.
Financial Analysis
See Attachment