File #: 11-1764    Version: Name: A RESOLUTION OF THE CITY OF KEY WEST, FLORIDA SUPPLEMENTING ORDINANCE NO. 03-15, AS AMENDED AND SUPPLEMENTED BY ORDINANCE NUMBER _____, WHICH AUTHORIZED THE ISSUANCE OF NOT EXCEEDING $6,400,000 SEWER SYSTEM REVENUE BONDS, SERIES 2011, OF THE CITY TO FINAN
Type: Resolution Status: Passed
File created: 11/15/2011 In control: City Commission
On agenda: 2/7/2012 Final action: 2/7/2012
Title: Supplementing Ordinance No. 03-15, as amended and supplemented by Ordinance No. 12-01, which authorized the issuance of the City’s Sewer System Revenue Bonds, Series 2012, to partially finance sewer projects originally funded through the State of Florida Department of Emergency Management and paying costs of issuance related thereto; Pledging a parity lien on the net revenues of the sewer system for the payment of such bonds; Providing for the rights of the registered owners of such bonds; Appointing a Bond Registrar and Paying Agent; Authorizing the private negotiated sale of such bonds pursuant to the terms and conditions described herein and in the commitment; Designating such bonds as qualified tax-exempt obligations within the meaning of the Internal Revenue Code; Establishing the reserve requirement for such bonds; Providing certain other matters in connection therewith.
Sponsors: Jim Scholl
Attachments: 1. Resolution, 2. Executive Summary, 3. Sewer System Revenue Bonds, Series 2012 (10-yr $4MM), 4. Recommendation Memo, 5. Fitch Ratings Confirms AA- Bond Rating, 6. PFM Summary Presentation
Title
Supplementing Ordinance No. 03-15, as amended and supplemented by Ordinance No. 12-01, which authorized the issuance of the City's Sewer System Revenue Bonds, Series 2012, to partially finance sewer projects originally funded through the State of Florida Department of Emergency Management and paying costs of issuance related thereto; Pledging a parity lien on the net revenues of the sewer system for the payment of such bonds; Providing for the rights of the registered owners of such bonds; Appointing a Bond Registrar and Paying Agent; Authorizing the private negotiated sale of such bonds pursuant to the terms and conditions described herein and in the commitment; Designating such bonds as qualified tax-exempt obligations within the meaning of the Internal Revenue Code; Establishing the reserve requirement for such bonds; Providing certain other matters in connection therewith.