Label
GOBondsRAISEGrantMatch2026
Finance
Melanie Campbell 1252/ Jamie Takacs 1468
Revised
Title
Providing for the issuance and sale of bonds in the maximum principal amount of $19,800,000 for the purpose of paying costs, in cooperation with the U.S. Department of Transportation through its Rebuilding American Infrastructure with Sustainability and Equity (RAISE) grant program, and otherwise, of (i) improving the City's street system by reconstructing, resurfacing and curbing streets, constructing water lines and related water supply facilities, sanitary sewers and related sanitary facilities, storm sewers and related drainage facilities, bicycle lanes, sidewalks, crosswalks and streetscaping, and installing decorative street lighting, signage and trees and other landscaping, (ii) constructing a transportation mobility hub including related seating, lighting, bicycle and scooter shelter and other equipment, and (iii) constructing a multiuse path along Dorr Street including commissioning and installing public artwork along the path, in each case as designated in the plans approved or to be approved by Council and together with the necessary appurtenances and work incidental thereto, and acquiring real estate and interests in real estate in connection therewith, and declaring an emergency.
Body
SUMMARY & BACKGROUND:
This is one of a series of ordinances authorizing the issuance of general obligation bonds the City plans to issue in May 2026.
This Ordinance authorizes the issuance and sale of bonds in the maximum principal amount of $19,800,000 to provide approved debt funding for the City's portion of the costs of a project being undertaken as part of the City's participation in the U.S. Department of Transportation through its Rebuilding American Infrastructure with Sustainability and Equity (RAISE) grant program. With the issuance of the bonds authorized by this Ordinance, the City's outstanding debt will be increased by not more than $19,800,000. The ...
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