For details please click on Search Help at the top or the bottom of this document. Present were Councilmembers Martin, Orlik, Portantino, Mayor Pro Tem Spence and Mayor Liu. Also present were City Manager Fulwood, Assistant City Manager Alexander, Director of Public Works Chapman and Deputy City Attorney Steres. The City could use cash or a bond issue. A bond issue would require that the Council develop a debt repayment schedule over a several year period.
Bonds are useful during periods of low interest rates.
The debt must serve a public purpose such as acquiring open space, playing fields, or the purchase of a building for a civic center or senior center. It may or not need a vote. Certificates of participation are general funds used to repay debt and do not require a vote. The Council must protect the public investment by getting the lowest interest rate, and making sure the debt is spread and managed property. The community must review and approve an obligation.