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Council and building authority approve lease‑revenue bonds after finance presentation
Summary
Council members and the Local Building Authority heard a finance presentation (Zions representative present) that characterized selected financing options as a cost-saving measure; the council and the authority approved resolutions authorizing lease‑revenue bonds.
City staff and a representative from Zions presented financing options tied to lease-revenue bonds and described anticipated savings from the selected option. A council member said the option was a "good savings," and the council approved Resolution 26-19 authorizing issuance of lease-revenue bonds by the local building authority.
The council then convened the Local Building Authority, opened its tentative-budget hearing, and later approved LBA Resolution 26-02 authorizing issuance of lease-revenue bonds by the authority. Board members voted on the motions during roll-call votes and the motions carried.
