File #: 19-9052    Version: 1 Name: WWW Revenue Bonds 2019
Type: Ordinance Status: Adopted
File created: 6/7/2019 In control: City Council
On agenda: 6/18/2019 Final action: 6/18/2019
Title: Consideration of all matters incident and related to the issuance and sale of “City of Grand Prairie, Texas, Water and Wastewater System Revenue Bonds, New Series 2019”, including the adoption of an ordinance authorizing the issuance of such bonds
Attachments: 1. GP WS Escrow Agmt - Bond proceeds, 2. GP WS Escrow Agmt - principal forgiveness amounts, 3. GP WS No Litigation Cert, 4. GP WS opinion, 5. GP WS PAR Agmt, 6. GP WS tax cert, 7. Grand Prairie WS Ordinance

From

Brady Olsen, Treasury and Debt Manager

 

Title

Consideration of all matters incident and related to the issuance and sale of “City of Grand Prairie, Texas, Water and Wastewater System Revenue Bonds, New Series 2019”, including the adoption of an ordinance authorizing the issuance of such bonds

 

Presenter

Becky Brooks, Chief Financial Officer

 

Recommended Action

Approve

 

Analysis

On February 25, 2019, TWDB approved the City's financial assistance request in the amount of $3,730,800, consisting of a $3,180,000 loan and $550,800 in loan forgiveness, from the Clean Water State Revolving Fund.  The City will use the funds to finance construction of wastewater system improvements. Pricing of the bonds will be on June 11th and final amount of the revenue bonds will be provided to City Council at the meeting.

 

Financial Consideration

The revenue bonds are being priced on June 11th.

 

The City's Bond Counsel, Norton Rose Fulbright US LLP, will bring the final bond ordinance to the City Council meeting the day of the sale, June 18, 2019.

 

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