PRESENTER: Presenter
Angie Harris, Assistant Director of Finance and Ryan Cunningham, SAMCO Capital
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SUBJECT: Title
Presentation and discussion on the results of the sale of the Series 2023 GO and Refunding Bonds, Series 2023 Certificates of Obligation (CO’s), and the Series 2023 Tax Notes.
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DEPARTMENT: Finance
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COUNCIL DISTRICTS IMPACTED: N/A
BACKGROUND INFORMATION:
The sale of the Series 2023 GO and Refunding Bonds, Series 2023 CO’s, and the Series 2023 Tax Notes took place on September 7, 2023. Ryan Cunningham with SAMCO Capital will be providing information on the results of those sales.
These issuances funded on October 4, 2023. As a reminder, the GO issuance ($35,000,000) was the first issuance of the 2023 Bond Program. The Refunding issuance was to refund the Series 2014 GO Bonds and the Series 2014A CO’s ($4,640,000). The Series 2023 CO’s issuance ($10,000,000) was the Economic Development Corporation’s (EDC) contribution to the Sports Complex Project and will be fully supported by the EDC. The Series 2023 Tax Note ($2,000,000) was the first issuance of the rolling tax note vehicle and equipment replacement program.
These issuances and the related debt service requirements were included in the FY 2024 Adopted Budget.
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FISCAL IMPACT:
Recommendation
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