Agenda Item Title:
Approve Resolution No. 2021-096 A Resolution Authorizing the Issuance and Sale of Water Revenue Refunding Bonds, Defining the Terms and Manner of Payment of the Bonds and the Security Therefor
Origination Group:
Legal & Finance Committee
Origination Meeting Date:
11/10/2021
City Council Hearing Date:
11/15/2021
Staff Contact:
Pauline Sumption, Finance Director
Agenda Item Summary:
This will allow for the issuance of Water Revenue Refunding Bonds, to refund in advance of maturity, a portion of the the Series 2015 Water Revenue Refunding Bonds (the “Refunded Bonds”), and to pay the costs of issuance of the Bonds. Estimated savings is approximately $2.25 million.
Funding Source & Fiscal Impact (if applicable):
| Funding | Cost Center |
|---|---|
| 0602 | 0932 |
Is Funding Budgeted?:
Budgeted
Recommendations:
Origination Recommendation Action:
Approve