Agenda Item # 13.a.
City Commission Regular Meeting - 4:30 pm
- Meeting Date:
- 02/16/2021
- Re
- Resolution 21-R14 Refunding Stormwater Loan Agreement
- Submitted For:
- Johnna Morris
SUBJECT:
Resolution 21-R14 Accepting the proposal of Capital One Public Funding, LLC to refinance the City's $8,655,200 Stormwater Revenue Refunding Note Series 2016 and authorizing the execution and delivery of a Loan Agreement.
SUMMARY:
Resolution authorizing the refinancing of the City's Stormwater Revenue Bonds; saving $301,311 over the life of the loan without extending the term years.
RECOMMENDATION:
Approve Resolution 21-R14
ALTERNATIVES:
Not Approve
RESPONSIBLE STAFF:
Johnna Morris, Director of Finance
COORDINATED WITH:
Pete Sweeney, City Attorney
Linda Cox, City Clerk
Linda Cox, City Clerk
Fiscal Impact
- Budgeted Y/N:
- N
- Fiscal Year:
- 2021
- Account:
- 4034300
- Amount:
- $8,655,200
OTHER INFORMATION:
This is not a budgeted expense, however there will be savings over the life of the loan refinance
Attachments
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| City Manager | Nick Mimms | 02/09/2021 11:35 AM |
- Form Started By:
- Johnna Morris
- Started On:
- 02/03/2021 02:06 PM
- Final Approval Date:
- 02/09/2021