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Council hears presentation of $30.1 million refunding bond ordinance
Summary
Acting Finance Director Benjamin Guzman told the council the Local Finance Board approved the city's application to issue $30,100,000 in refunding bonds and asked that the ordinance be adopted at the next meeting; no vote was held on Feb. 17.
Benjamin Guzman, acting finance director, briefed the council on a public hearing and second-reading ordinance authorizing $30,100,000 in aggregate principal refunding bonds.
"Luckily the local finance board did approve the city's application for the refunding bonds for the $30,100,000," Guzman told the council and asked that the adoption be scheduled for the following evening.
Council members had no questions at the time. Guzman explained that refunding bonds have been approved by the state-level board and that adoption at the council's next meeting would complete the municipal approval required to move forward.
No final vote or amended terms were recorded in the meeting transcript; Guzman said the city would present the ordinance for adoption at the next meeting.
