Title
Amending the 2010 Capital Improvement Budget reflecting the issuance of the General Obligation Tax-Exempt CIB Bonds Series 2010E, Taxable CIB Bonds BABs Series 2010F, Taxable CIB Bonds RZED Series 2010G, and Taxable Library Bonds RZED Series 2010H
Body
WHEREAS, Council File #10-591 was approved on June 2, 2010, regarding the intent to issue 2010 General Obligation bonds in two or more series as taxable recovery zone bonds, and /or build America bonds, and/or tax exempt bonds to finance the Payne Maryland Recreation Center and Library, and the Como and Highland Pools projects, and
WHEREAS, Council File #10-591 amended the 2010 budget to provide $300,000 to for the design and engineering of the Highland Pool project, to be reimbursed by the pool bonds, and
WHEREAS, on September 15, 2010 the City Council adopted the following resolutions approving the sale of these bonds:
CF # 10-1026, providing for the sale of GO CIB, Series 2010E in order to finance a portion of the Payne Maryland Joint Recreation Center and Library Project and the Highland and Como Pool rehabilitation and reconstruction projects;
CF # 10-1027, providing for the sale of taxable GO CIB (Build America Bonds - Direct Pay), Series 2010F in order to finance the costs of the Highland and Como Pool rehabilitation and reconstruction projects;
CF # 10-1028, providing for the sale of taxable GO CIB (Recovery Zone Economic Development Bonds - Direct Pay), Series 2010G in order to finance a portion of the Payne Maryland Joint Recreation Center and Library;
CF # 10-1029 relating to the sale of taxable GO Library Bonds (Recovery Zone Economic Development Bonds - Direct Pay) Series 2010H to be issued by the Saint Paul Public Library Agency for the library portion of the Payne Maryland Joint Recreation Center and library project; and
WHEREAS, the 2010 budget does provide adequate funding for the Como Pool and Payne Maryland projects; and
WHEREAS, the 2010 budget needs to be amended to reflect...
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