Speaker 0: Item. I'm sorry. Item 16.
Speaker 1: A report from Financial Management Recommendation to adopt resolution authorizing the establishment of a method for the city to declare the intent to receive reimbursement from proposed future bond proceeds citywide.
Speaker 6: Mr. West Yes, we have a quick presentation by our city treasurer, David Nakamoto.
Speaker 2: Thank you, Mr. West, Honorable Mayor and members of the City Council before you as a recommendation to reauthorize the city's existing process for declaring its intent to permit reimbursement of capital project costs from future bond proceeds is not uncommon for the city to incur such initial project expenses prior to issuing financing to affirm the city's ability to to be reimbursed for pre financing costs. The City Council is requested to designate the City Manager to act on its behalf in declaring its intent to reimburse capital expenditures from proposed financing proceeds. This action does not authorize or commit to new debt issues. Excuse me. The designation only preserves the city's ability to declare its intent to be reimbursed. There is no direct fiscal impact or local job impact for this item. This concludes staff's report.
Speaker 0: Thank you. There's a motion any second. Is there any public comment on this item? Seeing none. Please cast your vote.
Speaker 1: Motion carries.
Speaker 0: Thank you. We're actually going to hear some related items, item 25, which is related item Kirk.
Recommendation to adopt resolution authorizing the establishment of a method for the City to declare the intent to receive reimbursement from proposed future bond proceeds.  (Citywide)