Agenda Item Title:
Title
Refinancing of Bonds: Consideration for adoption of a resolution authorizing the issuance and sale of not more than $5,500,000 aggregate principal amount of Sales Tax Revenue Refunding Bonds and related matters (refinancing of Series 2009 and 2010 Storm Water and Golf Bonds).
Body
Presenter:
Brian Kelley, Administrative Services Director
Body
Description/Background:
Resolution 19-25 C
Consideration for adoption of a resolution authorizing the issuance and sale of not more than $5,500,000 aggregate principal amount of Sales Tax Revenue Refunding Bonds and related matters.
Estimated net present value savings from refinancing the Series 2009 and 2010 Bonds ranges from $340,000 to $405,000. The maturity date for these bonds will not change.
The Resolution establishes a 30 day contest period during which any person in interest shall have the right to contest the Resolution and Indenture as it relates to the refunding.
The Exhibits are substantially in the form attached, final details will be filled in as determined at the time of refinancing within the parameters set forth by the Resolution.