Substitute
Public Hearing: YES ? NO ? Department: Finance
SUBJECT:
Title
Commission District(s): All Commission Districts
Consideration of a Supplemental Series 2023 Bond Resolution which (1) supplements the Series 2023 Bonds Resolution adopted by the Board of Commissioners on August 8, 2023 which authorized the sale and issuance by the County of its Water and Sewerage Refunding Revenue Bonds (Second Resolution), Series 2023 (the "Series 2023 Bonds") in an aggregate principal amount not to exceed $75,000,000 for the purpose of refunding a portion of the County's outstanding Water and Sewerage Revenue Refunding Bonds (SecondResolution), Series 2013 (the "Series 2013 Bonds") to achieve debt service savings (the "OriginalResolution"), (2) accepts the bid for the purchase of the Serie 2023 Bonds from the winning bidder and (3) approves the redemption provisions, the principal amortization and the interest rates for the Series 2023 Bonds.
Body
Information Contact: Dianne McNabb/CFO & Robert Atkins, Deputy Director of Finance/Treasurer
Phone Number: 404-371-2745 & 678-910-5638
PURPOSE:
To adopt a Supplemental Bond Resolution which (1) supplements the Original Resolution which authorized the
sale and issuance by the County of the Series 2023 Bonds in an aggregate principal amount not to exceed
$75,000,00 for the purpose of refunding all or a portion of the County's outstanding 2013 Bonds to achieve
debt service savings in excess of 5% of par, (2) accepts the bid for the purchase of the Serie 2023 Bonds from
the winning bidder and (3) approves the redemption provisions, the principal amortization and the interest rates
for the Series 2023 Bonds.
NEED/IMPACT:
The Series 2023 Bonds are proposed to refinance the Series 2013 Bonds for the purpose of reducing the
total interest costs for the County's outstanding water and sewerage revenue bonds. The Series 2013 Bonds
funded the refunding of Series 2003A and 2003B bond...
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