Title
Presentation and discussion of issues relating to a schedule of events for the sale of Certificates of Obligation, Series 2026.
Body
Summary:
The City intends to issue Certificates of Obligation for the water and sewer system in accordance to the City’s adopted Capital Improvements Plan. The maximum aggregate principal of the certificates will not exceed $7,160,000.
Proceeds from these certificates are planned for projects including, water line replacement, rehabilitation of lift stations, manhole rehabilitation, sanitary sewer line replacement, surface water treatment plant rehabilitation, and water distribution rehabilitation. The related professional services for these projects and the costs of issuance will also be funded from the proceeds of the certificates.
The City's Financial Advisor, John Robuck, from BOK Financial Securities, Inc., will be in attendance at the meeting to present a tentative schedule of events and to answer any questions related to this planned debt issuance.
A resolution authorizing the publication of the Notice of Intent to Issues Certificates of Obligation; approving the preparation of a preliminary statement; and approving other matters incidental thereto is on the regular city council meeting agenda tonight for approval.
Fiscal/Budgetary Impact:
Payment of the debt service and issuance costs related to these certificates will be funded by ad valorem tax revenues and the water and sewer fund.
Recommended action
Presentation and discussion only during workshop.