Hold public hearing on $105 million bond refinancing for civic center project

Civic Center BondsBudget

In Plain English

The city created a separate financing authority to issue bonds for the civic center project in 2007. This public hearing allows residents to comment before the authority refinances up to $105 million in existing bonds. Refinancing typically reduces interest payments by taking advantage of lower rates.

Auto-generated summary. Source: official agenda documents.

Votes

Approve consent calendar

Moved by: Councilmember MarquezSeconded by: Councilmember Viramontes
Passed

7 to 0

ThurmondAye
BatesAbsent
ButtAbsent
Gayle McLaughlinAye
RogersAye
LopezAye
ViramontesAye
MarquezAye
SandhuAye

Close the public hearing

Moved by: Councilmember ViramontesSeconded by: Councilmember Rogers
Passed

Adopt City Council Resolution No. 71-07

Moved by: Councilmember ViramontesSeconded by: Councilmember Sandhu
Passed

Adopt Richmond Joint Powers Financing Authority Resolution No. 3-07

Moved by: Councilmember ViramontesSeconded by: Councilmember Sandhu
Passed