HomeMy WebLinkAboutA026 - Letter from Duane Pitcher dated April 26, 2012 tMemo
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TO: Steve Schainker, City Manager APR 2 6 2012
Art Weeks, Library Director
John Joiner, Director of Public Works
John Dunn, Water and Water Pollution Control Director CITY CLERK
FROM: Duane Pitcher, Finance Director
DATE: April 26, 2012
SUBJECT: General Obligation Bonds, Series 2012
We are moving forward with the bond issue scheduled for FY 12/13. Projects funded by the
issue include the following:
2012/2013 CIP G. O. Bond Issue
Woodview Drive Water&Sewer Project $ 357,000
Extension of Utilities East 4,300,000
Extension of Utilities North 1,401,000
Flood Response & Mitigation Projects 820,000
Collector Street Pavement Improvements 850,000
Asphalt Street Reconstruction Program 928,000
CyRide Route Pavement Improvements 1,420,000
Arterial Street Pavement Improvements 219,000
Concrete Pavement Improvements 600,000
Downtown Street Improvements 950,000
Asphalt/Seal Coat Street Rehabilitation 620,500
Squaw Creek Bridge 400,000
Subtotal Debt Issue $ 12,865,500
Library Expansion/Renovation 4,500,000
Total Debt Issue $ 17,365,500
With some projects underway and the funding needs for the Library, it is important that we
issue early in the fiscal year, so we need decisions now. For extension of utilities, if we are not
ready, we will not issue as discussed during budget.
Please review all your projects and notify me of any changes in the estimated cost or timing of
the projects. Provide your input to me by Friday, May 11, 2012.
c: Diane Voss, City Clerk
Carol Collings, Budget Officer
Roger Wisecup, Treasurer
Bob Kindred, Assistant City Manager