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REQUEST FOR COUNCIL ACTION
ORDINANCES: O-2006-2 and O-2006-3
SUBJECT: Ordinances to Approve the Partial Refunding of 1998 and 2000 Certificates of Participation
ADDRESS: City Facilities
RECOMMENDATION: Approve Ordinances
FUNDING SOURCE: Refinancing Transactions to Lower Costs to City
SUMMARY AND BACKGROUND OF SUBJECT MATTER: The City has been monitoring the possibility of a partial refunding of the 1998 and 2000 Certificates of Participation relating to the lease/purchase of the Civic Center, Jefferson County Library, and various recreation facilities in the City. Market conditions appear appropriate to bring these ordinances forward to approve the agreements relating to such refunding transactions in order to effect savings for the City. Depending on market conditions, resolutions to establish the final terms of the refinancings are expected to be brought to Council within 60 days of the adoption of these ordinances.
DATE OF FIRST READING: January 23, 2006
DATE OF SECOND READING: February 13, 2006
ORIGINATED BY: Finance Department
STAFF PERSON RESPONSIBLE: Larry Dorr, Finance Department Director
DOCUMENTS ATTACHED:
Ordinance O-2006-2
Blacklined Version
First Amendment to Lease
Purchase & Sublease Agreement
First Supplement to Mortgage
& Indenture of Trust
First Amendment to Intergovernmental
Agreement & Sublease
Escrow Agreement
Ordinance O-2006-3
Blacklined Version
Second Amendment to Lease
Purchase & Sublease Agreement
Continuing Disclosure Certificate
Official Statement - Please
note, this document is 88 pages and will take a few minutes to download
First Supplement to Mortgage
and Indenture of Trust
Escrow Agreement
SUBMITTED BY:
Larry Dorr, Finance Department Director
REVIEWED BY:
Joni Inman, Director Mayor and City Manager's Office
Michael J. Rock, City Manager
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