Explanation
BACKGROUND: This ordinance authorizes the issuance of unlimited tax bonds in an amount not to exceed $45,955,000.00 for recreation and parks-related projects. Proceeds of the bond sale will be used to fund a portion of the capital improvement projects within the 2025 Capital Improvement Budget.
FISCAL IMPACT: A bond in the amount of $45,955,000.00 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 $45,955,000.00 for recreation and parks-related projects; and to declare an emergency. ($45,955,000.00)
Body
See attached file, incorporated herein by reference: City of Columbus - 2026 Bonds - Unlimited Tax Rec. Parks Ordinance (2022 Election)(110036445.1).pdf