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Casa Grande council adopts reimbursement resolution for streets and transit projects; approves clerk appointment and consent agenda
Summary
The City Council approved Resolution No. 5758 declaring official intent to reimburse prior capital expenditures for streets and transit projects from future bond proceeds, and confirmed personnel and routine items including the appointment of Adriana Carpio Solas as city clerk.
The Casa Grande City Council on Feb. 18 approved Resolution No. 5758 declaring the city—s official intent under federal Treasury regulations to reimburse prior capital expenditures for streets and transit projects from the proceeds of future general obligation bonds.
The resolution, presented by city staff and discussed with bond counsel Zach Sakas, allows the city to reimburse original capital expenditures for approved streets and transit improvement projects from bond proceeds at the city—s discretion. Staff told the council the action does not itself authorize a bond sale or create debt; separate council action would be required to sell bonds and set terms. The resolution identifies the $51,000,000 figure voters authorized in 2022 as the maximum amount for which the city may seek reimbursement.
"No, this resolution allows the city to reimburse prior city expenditures from a future sale of bonds; this resolution does not authorize the…
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