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Shoreline staff outlines up to $38.36 million LTGO bond plan for sidewalks and surface-water projects
Summary
City staff presented Ordinance 1057 proposing limited-term general obligation bonds not to exceed $38,360,000 to finance sidewalk improvements and surface-water capital projects, with staff recommending adoption at the April 6 meeting and an anticipated bond sale in May.
Shoreline staff on March 23 presented Ordinance 1057, which would authorize limited-term general obligation (LTGO) bonds to fund the next phase of the city’s sidewalk program and capital projects for the surface water utility.
"This ordinance addresses several components of debt," Director Joe said, describing staff work with bond counsel Deanna Gregory and municipal advisor Maggie Marshall. The ordinance would authorize the issuance of bonds with an aggregate principal amount up to $38,360,000 and would also allow defeasance…
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