Laserfiche WebLink
, v <br /> FINANCE DEPARTMENT MEMORANDUM <br /> ��88 - 35 <br /> April 7 , 1988 <br /> T0 : Leslie T. Allen, City Manager <br /> FROM: Ron Lappi , Jr . , Director of Finance <br /> SUBJECT: Data Processing Equipment Financing <br /> Attached for your review and consideration is an ordinance <br /> authorizing the financing for five years the data processing <br /> upgrade included in the FY 1988-89 budget and the form of the <br /> General Obligation Notes . <br /> The timing of the presentation of these items to the City <br /> Council is critically important , because we want to have the <br /> upgrade done before the heat of the summer causes air <br /> conditioning problems again. <br /> The upgrade report and budget as presented and approved <br /> provides for this financing rather than an outright purchase . I <br /> have on this date sent requests for bids on the notes to ten <br /> different banks that might be interested in purchasing these <br /> General Obligation Notes , even without a rating or Bond Counsel <br /> opinion. <br /> If you have any questions regarding these documents or <br /> timing of their presentation, please give me a call . <br /> Thank you . <br />