WHAT THE RESOLUTION ACCOMLISHES:

The Resolution supplements Resolution No.98-86, as previously amended and supplemented, authorizes the issuance of not to exceed $100,000,000 in aggregate principal amount of Water and Sewer Revenue Bonds, Series 2023, the proceeds of which will be used to finance costs of the acquisition, construction and equipping of various capital improvements to the City's Water and Sewer Utility System, making certain other covenants and agreements in connection with the issuance of such bonds, authorizes a negotiated sale of said bonds, delegates certain authority to the City Manager and the Financial Services Director and for the authorization, execution and delivery of a bond purchase agreement with respect thereto and the approval of the terms and details of such bonds, appoints the paying agent and registrar for said bonds, authorizes the distribution of a preliminary official statement and the execution and delivery of an official statement with respect thereto, authorizes the execution and delivery of a continuing disclosure certificate, delegates certain authority to the City Manager and the Financial Services Director to determine whether to utilize Municipal Bond Insurance for the bonds, the reserve account requirement, if any, the reserve account insurance provider, if any, and certain other matters.  (Brought forward by City Management)