From
Brady Olsen, Treasury and Debt Manager
Title
2020 Plan of Capital Finance for Tax Notes
Presenter
Becky Brooks, Chief Financial Officer, and Brady Olsen, Treasury and Debt Manager
Recommended Action
Approve
Analysis
Attached is a time frame for the plan of finance related to the 2020 Tax Note issuance. A more in depth presentation will be provided at the meeting. We are anticipating ~$2 million in a 13 month note to fund a portion of the Fire capital improvement plan. In addition, this note will allow us to balance our tax rate for the coming year. We plan on presenting a more robust CO issuance to fund the full capital improvement plan in late 2020 or early 2021. Since this is a smaller and shorter issuance, we plan on placing this note directly with a bank, using Frost as a placement agent.
Financial Consideration
We would be committing a portion of our tax rate to fund this debt for the coming year.