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GARLAND
CITY COUNCIL ITEM SUMMARY SHEET
Agenda Item 8.
City Council Regular Session Agenda
Meeting Date:
05/02/2023
Item Title:
Water and Sewer System Revenue Refunding Bonds, Series 2023
Submitted By:
Matt Watson
Summary of Request/Problem
At the March 6, 2023, Work Session Council considered refunding $41 million of Water and Sewer System Commercial Paper Notes, Series 2015 and approximately $9.6 million Water and Sewer System Revenue Bonds, Series 2013 with Water and Sewer System Revenue Refunding Bonds, Series 2023. The purpose of this transaction is to refund a portion of variable rate commercial paper notes with fixed rate long-term debt and to generate debt service savings.
Recommendation/Action Requested and Justification
Approve the sale of Water and Sewer Refunding Bonds, Series 2023.
Attachments
Draft Ordinance
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