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Item # 18.

Work Session and Regular Meeting

Meeting Date:	11/13/2018
Department:	Finance
Pillars:	Excellence in Asset Management Gold Standard in Financial Health
Milestones:	Improve all modes of transportation with infrastructure in acceptable condition and well maintained Continue development and implementation of Long Term Financial Plan

AGENDA CAPTION:

Present, Discuss, and Consider Action Related to Potential Municipal Debt Issuances for the Midway Road Rehabilitation Project and Funding of the Addison Grove Development Incentive.

BACKGROUND:

This presentation is intended to be a follow-up to "Debt 201" presented on September 27, 2018. Cities use debt to finance public infrastructure projects such as city facilities, parks, streets, water, sewer and drainage improvements. Debt financing allows cities to finance projects, capital assets, or improvements to existing assets over their useful life.

"Debt 201" was designed to assist the citizens, businesses owners, and the general public in understanding the process of how municipal debt is issued to finance public infrastructure projects. The presentation covered the following topics:

Review of concepts covered in "Debt 101"
Debt issuance process
Current short-term debt needs
Bond election history
Bond sale progress
Lessons learned from previous bond elections
Current bond capacity
Methodology to identify and prioritize future needs for Capital improvements, asset management and ADA projects
Bond election process and schedule

This presentation is a follow up from Debt 201 relating to the potential funding for the improvements needed on Midway Road as well as funding for the incentive promised for the development of Addison Groves.

RECOMMENDATION:

Staff requests direction from Council.

Attachments
Presentation - Potential Debt Issuances for Midway Road and Addison Grove