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Council approves $69.2M reimbursement resolution to preserve future financing options
Summary
Council adopted a reimbursement resolution declaring intent to reimburse prior lawful expenditures from future tax‑exempt obligations (certificates of obligation) for up to about $69.2 million in potential projects covering water, wastewater, parks and other capital needs.
City financial advisors and staff briefed council on a reimbursement resolution that preserves the city’s ability to reimburse itself for preliminary expenditures from future tax‑exempt obligations.
Andrew Friedman of Samco Capital Markets and Finance Director Pervez Maitre said the resolution is a pre‑issuance “intent” that typically accompanies planned financings so that the city can spend on design, engineering and…
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