HomeMy WebLinkAboutA010 - Email from Finance Director dated May 19, 2022 - 2022/23 GO bonds Voss, Diane
From: Pitcher, Duane
Sent: Thursday, May 19, 2022 9:32 AM
To: Joiner, John; Higgins, Rich; Mellies, Corey; Abraham, Keith
Cc: Schainker, Steve; Phillips, Brian; Schildroth, Deb; Nady, Kara; Wisecup, Roger; Voss,
Diane
Subject: GO Bond Issue 2022
John, Rich, Corey, and Keith,
We have a large and fairly complex bond issue coming up this year. Below is a listing of the projects included in the FY
22/23 budget to be funded by GO Bonds. Please confirm your projects below to confirm they are all still a go and costs
are in the ball park. I will begin the scheduling process after I hear back. We will most likely have an August sale and
September close, but we could push that back a month if we have projects still up in the air. Interest rates have spiked
up from the very low rates of the past few years, I don't expect to add a re-financing and don't believe there is much
interest rate risk in delaying the issue. Most investment banks are now lowering GDP forecasts and expecting interest
rates to ease this fall. Give me a call if you have questions, but I would like a confirmation e-mail back by May 31, 2022.
Fire Apparatus Replacement $747,000
CyRide Route Pavement Improvements (Lincoln Way) 1,225,000
Concrete Pavement Improvements 3,600,000
Asphalt Street Pavement Improvements 3,000,000
Seal Coat Pavement Improvements 750,000
Alley Pavement Improvements 400,000
Downtown Pavement Improvements 250,000
Intelligent Transportation System 452,560
Bridge Rehabilitation (South Fourth St/loway Creek) 700,000
G.O. Essential Corporate Purpose Regular CIP $11,124,560
Indoor Aquatic Center Essential Purpose URA $6,192,512
General Corporate Purpose Bonds
Fire Station 3 Concrete Rehabilitation $350,000
Downtown Plaza $700,000
Duane
Duane Pitcher, CPA, CPFO
Director of Finance
City of Ames
515 Clark Avenue
P.O. Box 811
Ames, Iowa 50010
Phone (515) 239-5114
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