Background and current standing of the city's legislative framework regarding the funding and financing of projects within the city.

Authorization of the Certificates for funding and refinancing multiple capital improvement projects, the appointment of underwriters and placement agents, approval of official statements, and direct placement of certificates.

Enables direct placements, the creation of official statements for securities purposes, the appointment of financial institutions as underwriters, and sets terms for reimbursement of expenditures.

The changes are put forth to enhance the City's financial handling of projects, reinforce its commitments through securities, and ensure compliance with relevant laws and policies while being financially advantageous.

Approval came through the adoption of Ordinance No. 226-19 on October 11, 2019. It involved various sections for authorizing public finance officials, outlining specific protocols such as direct placements or negotiated sales, appointing underwriters and placement agents, and making changes and additions to the existing legislative and financial documents.

Establishment of guidelines for officials to make amends and adjustments in the best interest of the city without materially increasing the city's obligations, which are to be documented and filed officially. There is also a provision for partial repeal and maintaining validity in case parts of the ordinance are found legally prohibited.