Regular Items 14.
Legal Committee
- Meeting Date:
- 05/28/2026
COMMITTEE:
Legal
CONTACT:
C. Josh Nairn-Mahan
CHAIR:
Will Cavin
ACTION REQUESTED:
Consider recommending approval to advertise for a public hearing for Ordinance 26-XX;: An Ordinance to refund the Series 2017 Joint Water & Sewer Improvement Bonds. (Rogers)
BACKGROUND:
Initiated by: Hessel Yntema IV
This proposed ordinance would authorize the City of Roswell to refinance, pay, and discharge the outstanding Joint Water and Sewer Improvement Bond issued in 2017. It would also provide a mechanism to fund a loan agreement reserve account and provide for the payment of the principal and interest solely from the net revenues of the Joint Water and Sewer Utility System.
This proposed ordinance would authorize the City of Roswell to refinance, pay, and discharge the outstanding Joint Water and Sewer Improvement Bond issued in 2017. It would also provide a mechanism to fund a loan agreement reserve account and provide for the payment of the principal and interest solely from the net revenues of the Joint Water and Sewer Utility System.
FINANCIAL CONSIDERATION:
See Fiscal Impact below.
It is anticipated that by refinancing this bond, the City would likely save approximately $750,000.00.
It is anticipated that by refinancing this bond, the City would likely save approximately $750,000.00.
LEGAL REVIEW:
The proposed ordinance is legally sufficient.
BOARD AND COMMITTEE ACTION:
The May, 28, 2026 Legal Committee will be the first consideration of this item.
STAFF RECOMMENDATION:
Proceed as presented.
Attachments
- COR NMFA Application
- Updated Time Scheduled Flood Recovery
- Updated Time Schedule JU GRT
- COR Joint Utility Refunding NMFA Application
- Loan Approving Ordinance for Smart Meter