Item 7 No final action
In plain language — from the agenda backup
The Council is being asked to approve defeasing — essentially setting aside money to retire — some of the city's outstanding 2025 General Obligation Public Improvement and Refunding Bonds, which includes signing off on an escrow agreement and related paperwork. The catch that makes this notable: rather than tapping city coffers, a private developer partner would cover the cost with an upfront payment as part of a public-private redevelopment deal. The source notes this item has no fiscal impact on the city.
The official agenda language
Approve a resolution authorizing the defeasance of certain outstanding 2025 General Obligation Public Improvement and Refunding Bonds, including authorizing the execution of an escrow agreement and related documents. Funding: This item has no fiscal impact. Funding for the defeasance will be an upfront payment from a private developer partner as part of public-private partnership redevelopment project.
The official voting record does not show a final action.
What got said
- Bill Bunch challenged the item's transparency during public comment; mayor later conceded the item would be reposted
The roll call
Withdrawn 0-0
- Kirk Watson Mayor Withdrawn
- Natasha Harper-Madison D1 Withdrawn
- Vanessa Fuentes D2 Withdrawn
- José Velásquez D3 Withdrawn
- José "Chito" Vela D4 Withdrawn
- Ryan Alter D5 Withdrawn
- Krista Laine D6 Withdrawn
- Mike Siegel D7 Withdrawn
- Paige Ellis D8 Withdrawn
- Zohaib "Zo" Qadri D9 Withdrawn
- Marc Duchen D10 Withdrawn