To: Honorable Mayor and Members of Town Council
From: Trish Muller, Finance Director
Title
Resolution Approving the Miller’s Landing Business Improvement District 2019 Operating Plan and Proposed Budget; and Appointing Members to the Board of Directors to Fill Vacancies
Body
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Executive Summary
Each year per 32-25-1211, C.R.S., business improvement districts shall file an operating plan and its proposed budget for the next fiscal year with the clerk of the municipality no later than September 30 of each year. The municipality shall approve or disapprove the operating plan and budget within thirty days after receipt, but no later than December 5.
Attached is the Miller’s Landing Business Improvement District 2019 Operating Plan and Proposed Budget (Attachment B) and the Resolution to approve it (Attachment A). Additionally, this Resolution will approve the Board members as listed in the 2019 Operating Plan.
Consistent with the provisions of the Public Finance Agreement and the District’s 2018 Operating Plan, on September 12, 2018, the District issued Series 2018A Revenue Bonds (Tax- Exempt) in the amount of $8,065,000 and Series 2018B Revenue Bonds (Taxable) in the amount of $13,185,000. The proceeds of these bond issues will be utilized consistent with the provisions of the District’s Operating Plan.
Proposed Motion
“I move to approve the Resolution as introduced by title.”
Attachments
Attachment A: Resolution
Attachment B: Operating Plan and Proposed Budget