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AI# 12897  Regular City Council Meeting 7.4. 10/08/2024:

Information

Agenda Item

Resolution - Finance: Consider a resolution authorizing the redemption of Lubbock Preston Smith International Airport's portion of the 2015 General Obligation Refunding Bonds.

Item Summary

The Lubbock Preston Smith International Airport (LPSIA) is requesting the redemption of the remaining Airport Fund allocation of the General Obligation Refunding Bonds, Series 2015.

Fiscal Impact

Upon the regular debt principal and interest payment of $28,625 for the Lubbock Preston Smith International Airport portion of the 2015 General Obligation Refunding Bonds, the Airport will pay an additional principal amount of $60,000 and an interest amount not to exceed $3,000, for the remaining FY26 and FY27 outstanding bond serials.

Staff/Board Recommending

Cheryl Brock, Interim Chief Financial Officer

Attachments Resolution - LPSIA 2015 GO Ref Redemption

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