HomeMy WebLinkAbout1986-063-04/01/1986-AUTHORIZING THE CITY STAFF TO PREPARE DOCUMENTS RELATING TO POSSIBLE ADVANCE REFUNDINGS OF OUTSTANDI i •
RESOLUTION 86- 63
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE CITY STAFF TO PREPARE DOCUMENTS
RELATING TO POSSIBLE ADVANCE REFUNDINGS
OF OUTSTANDING CITY BONDS
WHEREAS, the City has currently outstanding municipal bonds; and
WHEREAS, current municipal bond interest rates are favorable; and
WHEREAS, the United States Congress is considering legislation that may
adversely affect the City's ability to refund its outstanding municipal
bonds; and
WHEREAS, certain effective dates of the proposed Federal legislation
have been delayed until September 1 , 1986; and
WHEREAS, the City may be able to reduce its financial resources
utilized to pay debt service on its outstanding municipal bonds.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that the City Staff is authorized to prepare documents and incur
bond counsel expenses to evaluate and, if desirable, to prepare for Council
approval the actions necessary for refunding of all or part of the City's
outstanding municipal bonds; and that the City Staff shall present its plan
for refunding to the City Council prior to offering or selling any 1986
refunding bonds.
Passed and adopted at a regular meeting of the Council of the City of
Fort Collins held this 1st day of April , A.D. 1986.
4014
Mayor
ATTEST:
City Clerk