Public Hearing: YES ? NO ? Department: Chief Executive Office
SUBJECT:
Title
Commission District(s): All Districts
A resolution authorizing the sale and issuance by the County of its Tax Anticipation Note - 2025B due September 1, 2025, in the aggregate principal amount not to exceed $98,700,000 (20258 TAN) for the purposes of paying current capital expenses to be incurred by the County's Watershed Department in until issuance and sale of water and sewerage revenue bonds in 2025. The County plans to repay the 2025B TAN with a portion of the proceeds of water and sewerage revenue bonds expected to be issued by the County prior to September 2025. PFM Financial Advisors LLC, the County's Municipal Advisor, will assist the County in preparing the Request for Bids and conducting a competitive process.
Body
Information Contact: Dianne McNabb, CFO, and Bob Atkins, Treasurer
Phone Number: 404-371-2174 and 678-910-5638
PURPOSE:
To consider adopting a resolution authorizing the issuance and sale by the County of its Tax Anticipation Note - 2025B due September 1, 2025, in the aggregate principal amount not to exceed $98,700,000 for the purposes of paying current capital expenses to be incurred by the County's Watershed Department in 2025. The County plans to repay the 2025B TAN with a portion of the proceeds of water and sewerage revenue bonds expected to be issued by the County prior to September 2025.
NEED/IMPACT:
To fund a portion of current capital expenses of the Department of Watershed Management until the issuance of the water and sewerage revenue bonds in late summer, by September 1, 2025.
FISCAL IMPACT:
Current estimated net interest cost is 3.75% per annum. Approximately $75,000 cost of issuance.
RECOMMENDATION:
Recommended Action
Adopt the attached resolution and authorize the Chief Executive Officer and the Chief Financial Officer to execute all necessary documents in connection with ...
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