HomeMy WebLinkAbout01-044 AGENDA BILL
BREMERTON CITY COUNCIL
1. SUBJECT: ORDINANCE NO. ,/-'/L7 ,~ ~ FOR AGENDA OF: February 21,2001
ORIGINATING DEPT: Treasurer
Authorizing the Issue of General Obligation Bonds to ORIGINATOR: Rich Harj~
Finance the Clubhouse at Gold Mountain Golf Complex DATE SUBMITTED: January 5, 2001
and Accepting the Purchase Offer of Bank of America.
2. CLEARANCES: Comment of back if necessary) 3. EXHIBITS:
Dir. Parks and Rec. Bond Ordinance
I,
Dir. Admin Serv;'~x-~*~-d~-, Official Statement
Fiscal & Budget Purchase Offer (At Second Re,ading)
Operations ~ ~r---~',--~'~'' ~-~¢T-i ~ck~C-z~
ENDORSEMENTS '~' INFORMATION APPROVED BY COUNCIL PRESI~),~NT FOR SUBMITTAL:
· SUMMARY STATEMENT AND REQUIREMENT FOR COUNCIL ACTIOTN:
This ordinance will authorize the financing necessary to design, construct and furnish the new clubhouse at Gold
Mountain Golf Course. This project has been reviewed by Council in the context of the 2000 - 2005 ClP, the 2001 -
2002 Budget as well as the awarding of the contracts for clubhouse design and construction. The bond issue
proposed is a 20 year, Limited Tax General Obligation with level debt sendce. While the debt will be a general
obligation of the City, it is expected that repayment will be made from the revenues of the Golf Course.
8. RECOMMENDATION:
............ = ........ d ......or ............. ot .... MOttoS. alit.--
Move to pass on second reading Ordinance No~'~,~authodzing the bond issue for the clubhouse at Gold Mountain
and to accept the purchase offer of Bank of Amedca.
9. RESPONSIBLE OFFICIAL: Treasurer
ENFORCEMENT OFFICIAL: Mayor
EXPIRATION DATE: Dec. 1, 2020
REVIEW DATE: N/A
'10. NOTICE OF ACTION
PULLED__ TABLED__ APPROVED__ DISAPPROVED__ AMENDED __
COUNCIL DIRECTIVE:
11. AGENDA BILL NO: 0/- 0'~
2. CLEARANCE COMMENTS:
5. IMPACT ON NON-PASSAGE:
The City will not have the funding necessary to pay for the Clubhouse at Gold Mountain.
6. IMPACT ON STAFFING. BUDGETS~ FACILITIES, EQUIPMENT OR OTHER RESOURCES:
This project and financing are included in the 2001 - 2002 Budget.
7. RESEARCH SOURCES:
Golf course operating history and fee analysis. Bank of Amedca. City's bond counsel.