Title
AN ORDINANCE PROVIDING FOR THE ISSUANCE AND SALE OF NOT TO EXCEED $2,700,000 OF NOTES, IN ANTICIPATION OF THE ISSUANCE OF BONDS, FOR THE PURPOSE OF PAYING COSTS OF CONSTRUCTING, FURNISHING AND EQUIPPING A NEW CLUBHOUSE AT THE CITY’S ELLSWORTH MEADOWS GOLF CLUB AND CLEARING, IMPROVING AND EQUIPPING ITS SITE.
Brief Description: This ordinance allows for the financing a portion of the new clubhouse at Ellsworth Meadows Golf Club. The total cost is estimated at $3.1 million. The balance of the project cost will be paid from the golf course fund balance.
Body
Legislative History
Resolution No. 23-52 authorized contract for design of the clubhouse.
Ordinance 23-114 authorized the issuance of $1,400,000 in notes for the clubhouse
Purpose & Explanation
The purpose of this ordinance is to allow for the issuance of notes to pay for the cost of the new Ellsworth Meadows clubhouse. The design and location were previously discussed and approved by City Council.
Construction is to take place in 2024-2025.
Legal Authority for Proposed Legislation
Pursuant to Charter Section 6.04, Contracts & Purchasing:
Competitively bid and advertised for two consecutive weeks; bid tab attached: [Yes/No/NA])
Joint or Cooperative Purchase Program
Professional Services
X Other
Fiscal Impact
Currently Budgeted (Account #, $)
Supplemental Appropriation Required (Account #, $)
X Appropriation Not Required
Does this legislation require use of an emergency clause?
Yes [if so, explain why]
X No
Recommendation
Suggested Action
Staff recommends approval of the Ordinance to allow for timely issuance of the notes.
Submitted by,
Thom Sheridan, City Manager
Jeff Knoblauch, Asst. City Manager/Finance Director