AGENDA CAPTION:
Title
Consider approval of Resolution 2015-90R directing publication of Notice of Intention to issue Certificates of Obligation; and other matters related thereto.
Body
Meeting date: July 21, 2015
Department: Finance Department, Heather Hurlbert, Finance Director
Funds Required: N/A
Account Number: N/A
Funds Available: N/A
Account Name: N/A
CITY COUNCIL GOAL: Sound Finances
BACKGROUND:
The City of San Marcos approved a Capital Improvements Plan during the FY2015 Budget process that called for the funding of approximately $26,960,000 in Capital Improvement
Projects for the City of San Marcos. These projects include street, infrastructure, drainage, electric, water/wastewater and airport improvements. The list of adopted projects is attached.
The first step in this process is a resolution directing publication of the notice of the intention to issue certificates of obligation. Two public notices are required to be posted in the local newspaper. The actual ordinance adopting the sale is currently scheduled for August 25, 2015. A complete schedule is attached.