Explanation
BACKGROUND: This ordinance authorizes the issuance of unlimited tax bonds in an amount not to exceed $50,515,000.00 for public utility-related projects. Proceeds of the bond sale will be used to fund a portion of capital improvement projects within the 2025 Capital Improvement Budget.
FISCAL IMPACT: A bond in the amount of $50,515,000.00 will be issued. Future legislation will provide for the debt service associated with the bond issuance.
EMERGENCY: Emergency passage is requested to enable implementation of capital projects and take advantage of market conditions.
Title
To authorize the issuance of unlimited tax bonds in an amount not to exceed $50,515,000.00 for public utility-related projects; and to declare an emergency. ($50,515,000.00)
Section 44-1(b) of the City Charter.
Body
See attached file: City of Columbus - 2025 Bonds - Unlimited Tax Public Utilities Ordinance (2016 Election)(25040738.1).pdf