P ITEM 18.
An Ordinance authorizing the issuance of City of Birmingham General Obligation Refunding Warrants, Series 2010-A in the principal amount $63,540,000.00. [First Reading] (Recommended by
the Acting Chief Assistant City Attorney·Dec 7, 2010
under reviewLegal & Settlements
$63.5M$$$$, Red tier (over $1 million)
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If approved, would authorize $50 million in general obligation bonds to fund public school building projects. Bonds must be repaid by taxpayers over time.
If approved, would authorize up to $10 million in city-backed bonds to finance Culton Holdings' manufacturing and warehousing facility at 1811 Woodlands Industrial Drive. The project could bring industrial investment and jobs to Birmingham.
If approved, would cancel the city's $168,000 purchase of a vacant 7,000 sq. ft. lot at 1312 1st Avenue North from Music Center, LLC. The property would remain with the seller rather than becoming city-owned land.
🌳Land area:
0.16 acres
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