The Great Falls City Commission took its first official action Tuesday in building a $20 million aquatics and recreation facility in OKing a resolution that will allow the city to be reimbursed by bond proceeds for costs incurred prior to a $10 million bond issue.
Finance Director Melissa Kinzler said a resolution authorizing the city to issue the $10 million bond will be presented to the Commission at a later date.
In the meantime, Kinzler said, the resolution was necessary to comply with IRS reimbursement bond regulations.
Kinzler said no costs have been incurred so far.
The city also has received a $10 million grant from the Department of Defense's Office of Economic Adjustment for the $20 million project.