HomeMy WebLinkAbout05232011 City Council Laydowns Oji ku (
} I
ty riA ir(1! '. X01 r —
Seward Communi Foundation 2011 Grants t i
�)
Boys& Girls Club $5000 /l
Seward Senior Center 5000
SeaView Community Services 4250
Seward Arts Council 1500
RBCA 1145
Moose Pass Library 1000
SOS Pets 1000
Tsunami Swim Club 600 u e
Seward Trails 500 -- Cd7
SIFA 250
Seward Arts Council 250
Seward Senior Center 250
Moose Pass Fire Dept 173
Seward Library/Museum Project 1000
Total $21,918
Rasmuson Foundation 2011 Challenge
If SCF can raise$15,000 for the SCF Unrestricted Fund,the Rasmuson Foundation will
match this with a$15,000 donation to this fund. In addition,once the challenge is
achieved,the Rasmuson Foundation will give$2,500 to SCF for immediate granting to
local organizations.
Paul Rupple
President, Seward Community Foundation
www.sewardcf org
z t / 1/a, art'
• General Obligation Bond—bond issue costs are based on amount bonded and are expected to
run between $50k and $150k.
• Accrued Interest costs—these are interest only payments due during the construction of the
project and are based on the amount bonded. As an example,a $3.5 million bond would
require capitalized interest of approximately$157k per year due on the bonds.
• GO bonds do not require bond reserves.
• The State of Alaska could seize any and all monies coming to the City if we default on the
payment. The monies include revenue sharing, CPV,grant reimbursement, etc.
Bond bank:
• Meeting the end of July and will have financing available late August or September. We could
request a later offering since we will not likely need the money that early such as October.
• They will likely meet again the end of December.
• Must insure bond bank approval prior to issuing a construction contract. A contract could be
issued that states it is"subject to the City receiving financing"for each phase of the project, etc.