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Budget committee details omnibus amendments, $26M debt close and capital priorities
Summary
Staff told the committee the city closed a roughly $26 million bond issuance (net proceeds $25.99M) and will appropriate proceeds through Amendment 66; the committee reviewed several amendments (insurance recoveries, a $10,000 donation to police, grants and reimbursables including a $224,000 airport match and $227,000 childcare reimbursements).
Speaker 2 reported that the city issued debt sized at $26,000,000 and "we received $25,990,000" after issuance costs, and that those proceeds currently reside in an LGIP account. Speaker 2 said budget amendment 66 appropriates much of those proceeds for capital outlay and that staff will file refunding paperwork with EMMA as required.
Speaker 2 outlined budget amendment details:…
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