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The resolutions have been prepared by bond counsel and are attached. <br />FINANCIAL IMPACT: Bond issuance costs in the $35,000 to $50,000 range will be paid in the <br />current year. Funding will come from capital fund balance and will be reimbursed once the <br />bond proceeds are received and interest accrued. Debt service payments on the bonds will <br />begin next fiscal year. The annual amount of the debt payments will be determined once the <br />bonds are sold and will be included in the Manages recommended budget for the fiscal year <br />2000-2001. After the sale of these proposed bonds, the balance of the 1997 bonds unissued <br />are as follows: <br />Schools $12,500,000 <br />Parks 3,170,000 <br />Affordable Housing 1,800,000 <br />Sanitary Sewer 1.200.000 <br />Total Unissued $18,670,000 <br />RECOMMENDATION(S): The Manager recommends that the Board adopt the attached <br />resolutions. <br />