PLACEMENT: Departmental
TITLE:
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ADOPTION OF A RESOLUTION FOR ISSUANCE OF UTILITIES SYSTEM REVENUE BONDS SERIES 2026A, AND FOR REFUNDING REVENUE BONDS, SERIES 2026B TO REFUND REVENUE BONDS SERIES 2016A
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EXECUTIVE SUMMARY:
executive summary
Approval will provide for issuance of up to $60,000,000 utilities system revenue bonds, series 2026A to finance certain utilities system capital improvements, and up to $20,000,000 utilities system refunding revenue bonds, series 2026B to refund all or portions of outstanding utilities system refunding revenue bonds, series 2016A; authorizing competitive bids; approving forms of official notices of sale and summary notice of sale pertaining to such bonds; approving forms of the preliminary official statement, continuing disclosure certificate, and registrar and paying agent agreement; authorizing the execution and delivery of final official statement, continuing disclosure certificate, and registrar and paying agent agreement.
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DEPARTMENT: Utilities and Solid Waste
PREPARED BY: Name: Jeremy Covey, P.E.
Title: Utilities Deputy Director
REQUESTED BY: Samuel Amerson, P.E., Utilities and Solid Waste Director
PRESET: 1:45 PM
PROCEDURES: None
BACKGROUND/RELATED STRATEGIC GOAL:
Subject to satisfying parameters in the Resolution, the County has a need to finance on a tax-exempt basis certain long-useful life capital improvements to its Utilities System commensurate with the useful life of such assets, and, depending on market conditions and subject to satisfaction of parameters in the Resolution, may have an opportunity to refinance existing debt for net present value debt service savings.
Currently the consolidated water system consists of two interconnected water treatment plants, North Water Treatment Plant and the Tropical Farms Water Treatment Plant.
The North Water Treatment Plant is currently permitted at 8.8 million gallons per day of capacity. Proposed capacity-related improvements will...
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