Marshalltown City Council
What: Special City Council Meeting
When: Nov.18, 2019, Noon
Where: City Hall Council Chambers, 10 W. State St.
Agenda Item: Resolution awarding sale of general obligation corporate purpose and refunding bonds, series 2019.
The Issue: City council discussed and voted over a period of several meetings to sell general obligation corporate purpose bonds to finance a number of public works projects. The Essential Corporate Purpose Loan is for $8,830,000 – $5,600,000 to fund new projects and $3,230,000 for the refinancing of outstanding principal balance of general obligation 2011.
Timber Creek Bridge Replacement – $500,000
West End Park Phase 1 – $425,000
East Merle Hibbs Phase 1 – $4,000,000
Sidewalk Gaps – $375,000
Anson Park Shelter/Restrooms – $300,000
Total New Projects – $5,600,000
Refunding general obligation bond – $3,230,000
Total Debt to be Borrowed – $8,830,000
What’s Next: Reiteration of need may be reviewed by city staff. Council to award sale.
Visit the city’s website for the complete agenda packet and to subscribe to agenda notices and department news: www.marshalltown-ia.gov.