AGENDA CAPTION:
Title
Consider approval of Ordinance 2021-59, on first and final reading, authorizing the second supplemental ordinance to the master ordinance establishing the City of San Marcos, Texas electric utility system revenue financing program; authorizing the issuance of City of San Marcos, Electric Utility Revenue Refunding Bonds in an amount not to exceed $17,000,000 for the purpose of refunding the City's outstanding electric utility system revenue bonds; providing for approval of this Ordinance on one reading only as authorized by State law; authorizing other matters relating to the bonds; and declaring an effective date.
Body
Meeting date: August 3, 2021
Department: Finance, Marie Kalka, Finance Director
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Fiscal Note:
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Background Information:
During the May 20, 2021 F&A Committee meeting, the refunding of Electric Utility bonds was presented for consideration. These refunding bonds are to be sold in a negotiated sale with pricing scheduled for the week of August 23, 2021. Estimated savings from the refunding is over $1.2M over 14 years. This Ordinance delega...
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