Title
Discussion of issues relating to the sale of Certificates of Obligation, Series 2022, for the construction of Deer Park Community Development Corporation (DPCDC) improvements (Community/Recreation Center), General Obligation Bonds, Series 2022, and Cash Defeasance of Certificates of Obligation, Series 2017.
Body
Summary:
Discussion of the attached presentation by BOK Financial Securities, Inc. and Bracewell LLLP related to:
-Financings Plans and Schedule of Events Overview, Certificates of Obligation, Series 2022, $15,000,000
-Financings Plans and Schedule of Events Overview, General Obligation Bonds, Series 2022, $15,280,000
-Overview of Cash Defeasance, Certificates of Obligation, Series 2017, $915,000
-Overview of potential refunding opportunity, Certificates of Obligation, Series 2014 and General Obligation and Refunding Bonds, Series 2014
-First supplement to the agreement regarding the construction of improvements with DPCDC
The Certificates of Obligation, Series 2022 will require a resolution of intent.
The cash defeasance of Certificates of Obligation, Series 2017 will require a budget amendment in FY 2021-2022 and a cash redemption ordinance.
The Limited Tax Refunding, Series 2022 will require a refunding ordinance.
On May 1, 2021, the Deer Park voters approved General Obligation bond propositions A-D and the continuation of the one-half of one percent economic development Type B sales and use tax (proposition E) as follows:
A) $19,500,000 for the purpose of providing funds for the design, construction, acquisition, and equipment of drainage improvements and the acquisition of land, easements, and rights-of-way in connection therewith.
B) $16,900,000 for the purpose of providing funds for the design, construction, acquisition, and equipment of fire department facilities, including a new Fire Station #1, Fire Station #2, and training room.
C) $7,200,000 for the purpose of providing funds for the design, construction, acquisition, and equip...
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