File #: ID 19-172    Version: 1 Name: Bond Resolution (CSB)
Type: PH-Action Item Status: Passed
File created: 6/2/2019 In control: City Council
On agenda: 6/11/2019 Final action: 6/11/2019
Title: Consider the issuance of a general obligation bond up to $8 million to partially finance the Harrisonburg-Rockingham Community Services Board (CSB) project
Attachments: 1. Memorandum, 2. Resolution, 3. Public Hearing Notice, 4. executed resolution

Subject:

Title

Consider the issuance of a general obligation bond up to $8 million to partially finance the Harrisonburg-Rockingham Community Services Board (CSB) project

Body

Presented By:  Staff

Recommendation and Review

The City is required by the Code of Virginia to hold a public hearing in advance of the issuance of debt. City Council was previously presented with information regarding the CSB building project. In cooperation with Rockingham County and the CSB, staff has determined that the most cost-efficient and best approach to obtaining long-term financing for the CSB project is to participate in the Virginia Resources Authority summer bond sale.