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Martinsville <br /> <br />Cit Coundl <br />Age da Sunmm <br /> <br />· Meeting Date: <br /> Item No: <br /> Department: <br /> I~sue: <br /> <br />June 13, 2005 <br />7. <br /> <br />City Manager/Finance <br /> <br />Presentation by City's financial advisor and consider <br />adoption of an Initial Ordinance and setting a public <br />hearing for July 12, 2005 for General Obligation Notes <br />and Bonds <br /> <br />Summary: <br />This relates to the adoption of an Initial Ordinance required by the City Charter to <br />start the process of issuing notes and bonds for the proposed interim financing for <br />the Patrick Hem-y School project (anticipating literary fund loan money) and <br />financing for landfill closure and some pending "corrective" construction being <br />mandated by DEQ. This Initial Ordinance authorizes issuance of an RFP for the <br />notes and bonds and it is expected that bank proposals will be in hand, for the <br />approval of one, at the time of the public hearing in July. <br /> <br />David Rose, of Davenport will be at the meeting to make a presentation and <br />answer any questions you may have. <br /> <br />Attachments: <br /> <br />Estimated Literary Fund Payment Schedule <br />Initial Ordinance <br /> <br />Recommendations: Motion to approve initial ordinance and set public <br />hearing for July 12, 2005 <br /> <br />Motion Mayor Cobbe Roop Clark <br />Second V-Mayor Reynolds Ferrfll <br /> <br /> <br />