Public Hearing: YES ? NO ? Department: Finance
SUBJECT:
Title
Commission District(s): All Commission Districts
Issuance of Water and Sewerage Revenue Bonds (Second Resolution), Series 2025A (the Series 2025A Bonds) in the aggregate principal amount not in excess of $450 million.
Body
Information Contact: Dianne McNabb, CFO or Bob Atkins, Treasurer
Phone Number: 404-371-2745; 678-910-5638
PURPOSE:
To award the sale of the 2025A Bonds to the best bid and to adopt the attached Supplemental Series 2025A Bond Resolution and authorize the execution of all necessary documents associated with the Series 2025A in the aggregate principal amount not in excess of $450 million for the purpose of (1) refinancing the County's tax anticipation note - 2025B in the principal amount of $98.7 million issued on May 23, 2025 and interest totaling $926,957.50 maturing on September 1, 2025 and (2) financing the cost of the acquisition, construction and equipping of certain improvements to the County's water and sewerage system.
NEED/IMPACT:
The County must pay off the County's W&S tax anticipation note in the principal amount of $98.7 million plus interest of $926,957.50, on September 1, 2025, and (2) must finance a portion of the cost of the acquisition, construction and equipping of certain improvements to the County's water and sewerage system in order to (a) comply with the Consent Decree and (b) maintain and improve the parts of the system not subject to the Consent Decree .
FISCAL IMPACT:
The cost of the Water & Sewer Revenue Bonds Series 2025A is estimated to approximate a 4.8% all-in True Interest Cost (TIC) and Costs of Issuance (COI) of $850,000.
RECOMMENDATION:
Recommended Action
Approve the attached Supplemental Series 2025A Bond Resolution associated with the Water and Sewerage Revenue Bonds (Second Resolution), Series 2025A in the aggregate principal amount not in excess of $450 mi...
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