SUBJECT
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Consider adoption of Resolution authorizing the issuance of Utility System Revenue Bonds, Series 2026 not to exceed $250,000,000.
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DESCRIPTION
Utility System Revenue Bonds, Series 2026 (the "Bonds') would be issued to finance the cost of acquisition and construction of additions, extensions, and improvements to the Utility System, including, without limitation, the various System expansion projects and improvements. Total principal amount of Bonds not to exceed $250,000,000 is requested to support Utilities’ Capital Program and pay costs associated with the issuance of these Bonds.
RECOMMENDATION
Adopt Resolution authorizing the issuance of Utility System Bonds, 2026 in the aggregate principal amount not to exceed $250,000,000.
FISCAL IMPACT
Utility bonds in an aggregate principal amount not exceeding $250,000,000 plus related interest expense to be repaid by Utility system revenues with principal and interest payment budgeted in the appropriate Utility system fund upon issuance of the Bonds.
CONTACT INFORMATION
Tanra-Lee Milson, Senior Accounting Manager
Comptroller Division
863-534-6598