The agenda for Tuesday's formal meeting of the Beverly Hills City Council includes the possibility of a vote on a bond to underwrite refinancing of debt undertaken to retro-fit City Hall in 1993.
According to the agenda for Tuesday's meeting:
Staff recommends the City Council of the City of Beverly Hills approve, authorize and execute certain bond (financing) documents and direct related actions in connection with the issuance of the City of Beverly Hills Public Financing Authority 2013 Lease Revenue Refunding Bonds, Series A (2003 Refunding Project), the proceeds of which will be used to refinance bonds issued to fund seismic retrofitting and other improvements to City Hall in 1993. The principal amount of the City of Beverly Hills Public Financing Authority 2013 Lease Revenue Refunding Bonds, Series A (2003 Refunding Project) will not exceed $20,000,000.
The City Council will also hear from its Ad Hoc Water Committee about a possible reduction in city water rates. According to the agenda, the committee has recommended the reduction to begin in the next fiscal year.
Earlier in the day the Council will hear from staff about the Gran Fondo Giro D'Italia Beverly Hills Bike Ride Event, tenatively slated for Nov. 2-3 on Crescent Drive adjacent to City Hall.
The organizers of this year's Concours Rodeo Drive Concours d'Elegance Car Show d'Elegance Car show on June 16, 2013 will also give an update.
The City Council's formal meeting takes place at 7 p.m. in City Hall. The afternoon's study sessions start at 2 p.m. in the same place.
See Study Session agenda here.
See Formal Meeting agenda here.
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