AGENDA CAPTION:
Title
Receive Staff presentation, and hold discussion, regarding the approved Fiscal Year 2019 Capital Improvement Plan (CIP) Projects, as well as, an update on the issuance of bonded debt in May 2019 to provide funding for the projects, and provide direction to Staff.
Body
Meeting date: March 5, 2019
Department: Finance-Heather Hurlbert, Finance Director
Amount & Source of Funding
Funds Required: Click or tap here to enter text.
Account Number: Click or tap here to enter text.
Funds Available: Click or tap here to enter text.
Account Name: Click or tap here to enter text.
Fiscal Note:
Prior Council Action: The FY 2019 were approved during the FY 2019 budget process.
City Council Strategic Initiative: [Please select from the dropdown menu below]
Stormwater
City Facilities
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Comprehensive Plan Element (s): [Please select the Plan element(s) and Goal # from dropdown menu below]
? Economic Development - Choose an item.
? Environment & Resource Protection - Choose an item.
? Land Use - Choose an item.
? Neighborhoods & Housing - Choose an item.
? Parks, Public Spaces & Facilities - Choose an item.
? Transportation - Choose an item.
? Not Applicable
Master Plan: [Please select the corresponding Master Plan from the dropdown menu below (if applicable)]
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Background Information:
The first year of the 10-year CIP is approved by City Council with the adoption of the budget each year. The bonded debt to fund these projects is traditionally issued in the spring after property taxes are collected. Prior to the debt issuance, projects are reviewed for several items:
* Is the project ready to move forward or should it be deferred?
* Does the project need additional funding?
* Are there new projects that have become necessary after the adoption of the CIP Plan?
* Are there alternative funding sources besides debt funding?
* Are previously deferred projects ready for funding?
When this review is complete, the t...
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