Posted: April 24, 2020
Rapid City
Agenda Item Summary

Agenda Item Ref. #: LF042920 10

Agenda Item Title:

Approve Resolution No. 2020-033

Origination Group:
Legal & Finance Committee
Origination Meeting Date:
City Council Hearing Date:
Staff Contact:
Pauline Sumption, Finance Officer
Agenda Item Summary:
Resolution Authorizing the Issuance of Sales Tax Revenue Refunding Bonds of the City; Pledging a Portion of the Sales Tax Receipts of the City to the Payment of Said Bonds; Authorizing Officers of the City to Approve, Execute and Deliver Certain Agreements and Documents Relating to the Bonds

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center
With the current reduced interest rates, refinancing the 2013 Sales Tax Bonds will save the CIP Fund approximately $800k NPV over the life of the bonds.


Origination Recommendation Action:

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