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<br />e <br /> <br />e <br /> <br />REQUEST FOR CITY COUNCIL AGENDA ITEM <br /> <br />}:IN ANCE <br /> <br /> <br />Appropriation <br /> <br />Agenda Date Requested: <br /> <br />Requested By: <br /> <br />Source of Funds: <br /> <br />N/A <br /> <br />Department: <br /> <br />Account Number: N/A <br /> <br />Report: <br /> <br />Resolution: <br /> <br />Ordinance: <br /> <br />xxx <br /> <br />Amount Budgeted: N/ A <br /> <br />Exhibits: <br /> <br />Ordinance <br /> <br />Amount Requested: N/A <br /> <br />Exhibits: <br /> <br />Budgeted Item: YES NO <br /> <br />Exhibits: <br /> <br />SUMMARY & RECOMMENDATION <br /> <br />Moroney, Beissner & Co. Inc. will be receiving bids on behalf of the City of La Porte until 6:00 pm on Monday, <br />July 22, 2002 for $5,400,000 in General Obligation Bonds. <br /> <br />Both issues are Qualified Tax Exempt Obligations. The Bonds will be dated July 15,2002. Interest on the Bonds <br />will accrue from such date and will be due on March 15, 2003 and each September 15 and March 15 thereafter until <br />final maturity. <br /> <br />The proceeds from the bonds will be used for the following projects: <br /> <br />$3,500,000 for Wastewater Treatment Plant Improvements, and <br />$1,900,000 for Fire Station II Relocation and Renovations. <br /> <br />This is the initial issuance of the $16.3 million in projects approved by voters in the February 2, 2002 election. <br /> <br />Action Required bv Council: <br /> <br />Approve ordinances authorizing the issuance of $5,400,000 in General Obligation Bonds. <br /> <br />Approved for City Council A2enda <br /> <br />(UJ- T. ~ <br /> <br />Robert T. Herrera, City Manager <br /> <br />r- 11. O"L <br />Date <br />