Agenda Item # 13.e.
City Commission Regular Meeting
- Meeting Date:
- 05/21/2018
- Re
- Resolution 18-R - Loan Agreement
- Submitted For:
- Johnna Morris
SUBJECT:
Resolution 18-R27 - accepting the proposal of SunTrust Bank to purchase the Capital Improvement Revenue Refunding Note and authorizing the execution and delivery of a Loan Agreement.
SUMMARY:
Resolution authorizing the refinancing of Revenue Bonds in order to save the City revenue.
RECOMMENDATION:
Approve Resolution No. 18-R
ALTERNATIVES:
Do not approve resolution
RESPONSIBLE STAFF:
Johnna Morris, Director of Finance
COORDINATED WITH:
Nick Mimms, City Manager, James Messer, City Attorney, and Linda Cox, City Clerk
Fiscal Impact
- Budgeted Y/N:
- N
- Fiscal Year:
- 2018
OTHER INFORMATION:
As a result of this refundig, the City will realize a savings of $476,854.67 collectively.
Attachments
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Finance Department | Johnna Morris | 05/11/2018 05:42 PM |
| City Manager | Nick Mimms | 05/15/2018 04:58 PM |
- Form Started By:
- qthompkins
- Started On:
- 05/09/2018 02:26 PM
- Final Approval Date:
- 05/15/2018