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Executive Summary:
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The City has identified
projects that are at a stage where it is necessary to issue debt for funding.
These projects have been previously discussed with the governing body and
have been authorized by resolution.
This resolution authorizes the
competitive sale of general obligation temporary notes and general obligation
bonds to finance a number of projects that cost approximately $32,491,666.00
plus interest and cost of issuance.
All projects funded with
temporary general obligation bonds have a term of 3 years. Upon completion of
those projects, they will be included in future permanent financing.
Improvements to be Funded with General Obligation Bonds
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Project
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Term
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Estimated Improvement
Fund Deposit
|
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Downtown Canopy
|
10 Years
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$350,000
|
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Humane Society
|
20 Years
|
2,500,000
|
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One Stop Shop
|
5 Years
|
180,000
|
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Parks & Recreation
Facilities Projects (2018):
·
Indoor Aquatics Center Pool Painting
·
Community Building Renovation
·
South Park Playground (ADA Compliance)
|
5 Years
|
306,462
|
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Public Building Projects (2018):
·
Arts Center Roof
·
Arts Center Boilers
·
City Hall Fire Alarm Panels and
General Maintenance
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Arts Center Roof:
10 Years
Arts Center Boilers and City Hall Fire Alarm Panels:
5 Years
|
319,862
|
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Traffic Calming (2018):
·
W. 17th Street and Indiana
·
W. 18th Street and Indiana
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W. 17th Street and Illinois
·
W. 18th Street and Illinois
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Ousdahl Road from 26th Street to 23rd
Street
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Trail Road from Kasold to Folks Road
|
5 Years
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235,342
|
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Total:
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$3,891,666
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Improvements to
be Funded with General Obligation Temporary Notes
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Project
|
Estimated Improvement Fund Deposit
|
|
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19th
Street Reconstruction – Harper to O’Connell
|
$250,000
|
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East
9th Street Improvements
|
2,500,000
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Fire
Medical Pavement Replacement
|
368,820
|
|
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Fire
Training Tower
|
1,097,680
|
|
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ITC
Exterior Repairs and HVAC
|
250,000
|
|
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Parks & Recreation
Facilities Projects (2018):
·
Union Pacific Depot Renovations
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Recreation Center Renovation
|
212,500
|
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Parks & Recreation
Facilities Projects (2019):
·
Indoor Aquatics Center Roof Resurfacing
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Arboretum Bathroom Upgrade
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Arboretum Parking Lot Repair
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Burcham Park/Upgrade Shelter and Playground
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Lawrence Loop Trail – Downtown Section
·
Oak Hill Cemetery Mausoleum
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Parking Lots and Roads
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810,000
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Police Facility
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18,840,000
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Public Parking Improvements
|
800,000
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Riverbank Stabilization
|
1,000,000
|
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Sidewalk,
Bike, Pedestrian Improvements, ADA Ramps:
·
East side of Michigan Street, 2nd Street to 3rd Street
·
South side of West 27th Street, Crestline Drive to Chipperfield
Road
·
South side of Harvard Road
·
Iowa Street to Hilltop Drive
·
Bike Boulevard on 21st Street from Iowa Street to Naismith
Drive
·
Bike Boulevard on 21st Street from Naismith Drive to
Massachusetts Street;
·
Bike Boulevard on Lawrence Avenue, from Harvard Road to Bob
Billings Parkway
·
Bike Boulevard on Naismith Drive from 19th Street
to 21st Street
·
Bike Boulevard on 13th Street from Massachusetts
Street to Haskell Avenue
|
500,000
|
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Street Maintenance 2019:
·
Lawrence Avenue – Clinton Parkway to West 31st
Street
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East 19th Street – Massachusetts Street to Haskell
Avenue
|
821,000
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Street Projects (2018):
·
23rd Street from Louisiana to Massachusetts Street
·
Louisiana Street from 12th Street to 13th
Street
|
950,000
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Traffic Calming (2019):
·
Missouri Street, 8th Street to 9th Street
·
Arkansas Street, 8th Street to 9th Street
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Lincoln Street, 3rd Street to 7th Street
·
East 13th Street, Massachusetts Street to Haskell Avenue
·
West 24th Street, Crossgate Drive to Kasold Drive
|
200,000
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$28,600,000
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Strategic Plan Critical Success Factor
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Effective Governance/Professional Administration
Safe, Healthy, and Welcoming Neighborhoods
Innovative Infrastructure and Asset Management
Core Services
Sound Fiscal Stewardship
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