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City previews $30 million parks and trails bond sale; sale results due Tuesday
Summary
Staff said voters approved a $30 million parks, green space and trails bond at about 81% in the referendum; staff reported upgraded credit ratings and said bond-sale results will be presented Tuesday morning and will require a council resolution Tuesday night.
City staff updated the council on the planned 2025 general obligation bond for parks, green space and trails. Staff said voters approved the $30,000,000 referendum with roughly 81% approval and that the city has updated its credit ratings, which will make the city competitive in the market for the bond sale.
Staff said the sale results will be available Tuesday morning and that the council will be asked to pass a resolution Tuesday night to accept the sale. No financial results or award recommendations were presented at the work session; staff will return with the sale summary and a resolution for council action.
