| | | | | | | |  | CITY OF PLANO
COUNCIL AGENDA ITEM |
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| | | | | | | | Council Meeting Date: 10/22/2018
Department: Finance
Department Head: Denise Tacke
Agenda Coordinator: SUSAN OLDHAM |
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CAPTION
Resolution No. 2018-10-12(R): To approve the issuance of revenue bonds in a principal amount not to exceed $65,000,000 to be issued by the New Hope Cultural Education Facilities Finance Corporation for a residential senior living project, to be known as the Bridgemoor Plano Apartments, located near 14th Street and Park Vista Road, in Plano; and declaring an effective date. Adopted |
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FINANCIAL SUMMARY Not Applicable
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| FISCAL YEAR: 2018-19 |
Prior Year
(CIP Only) |
Current
Year
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Future
Years
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TOTALS |
| Budget |
0 |
0 |
0 |
0 |
| Encumbered/Expended Amount |
0 |
0 |
0 |
0 |
| This Item |
0 |
0 |
0 |
0 |
| Balance |
0 |
0 |
0 |
0 |
FUND(S): N/A
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COMMENTS: This item has no financial impact to the City of Plano. |
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SUMMARY OF ITEM
This item is consideration of a resolution to approve the issuance of bonds by New Hope Cultural Education Facilities Finance Corporation for a residential senior living project, to be known as the Bridgemoor Plano Apartments. The approval process is required by provisions of section 147(f) of Internal Revenue Code of 1986, as amended. If the resolution is approved, the City of Plano has no liability, indebtedness or obligation for the payment of the bonds, nor shall any of the City's assets be pledged to payment of the bonds.
Strategic Plan Goal:
Financially Strong City with Service Excellence
Plano Tomorrow Plan Pillar:
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