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CITY of RAPID CITY Agenda Item Summary |
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Meeting Date: 04/01/2015 |
Commission, Board or Committee: Legal & Finance Committee |
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Staff Contact: Pauline Sumption |
PW Committee or L&F Committee: 04/01/2015 |
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Petitioner: N/A |
City Council 1st Reading: 04/06/2015 |
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Location: |
City Council 2nd Reading: |
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Agenda Title: |
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RESOLUTION NO. 2015-032RESOLUTION AUTHORIZING AND DIRECTING THE ISSUANCE AND SALE OF WATER REVENUE REFUNDING BONDS, SERIES 2015, DEFINING THE TERMS AND MANNER OF PAYMENT OF THE BONDS AND THE SECURITY THEREFOR. |
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Summary: |
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The City has an opportunity to refinance the Series 2009 Water Revenue Bonds for a lesser interest rate, which would in turn save money for the Water Fund. |
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Funding Source & Fiscal Impact (if applicable): |
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Water Enterprise Fund – refinancing would save the City approximately $2.5 million over the life of the bond |
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Recommendation: |
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Action: Approve Notes: |
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Options: |
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Attachments & Links: |
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