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A MOTION TO SCHEDULE A PUBLIC HEARING AND DRAFT LEGISLATION PROVIDING FOR THE ISSUANCE AND SALE OF BONDS IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $5,770,000 TO PAY COSTS OF REFUNDING THE SERIES 2010 VARIOUS PURPOSE BONDS, ISSUE $700,000 NEW MONIES AND TO APPROVE THE VARIOUS AGREEMENTS AS NECESSARY.
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PURPOSE: Refinance Series 2010 Various Purpose Bonds & issue $700,000 in new monies
DEPARTMENT: Finance Department
CONTACT INFORMATION: Chris Peeples, Finance Director, cpeeples@trotwood.org
INFORMATION: Provided by Finance Director, Chris Peeples
FISCAL & STAFF IMPACT: Approval will result in over $300,000 in interest cost savings over the life of the bonds and will lock in low interest rates for the future.
RECOMMENDATION: Approve for public hearing and draft ordinance for April 3, 2017 Council meeting. Adopt legislation at the April 17th Council meeting.