City of Rapid City. Presentation on Civic Center Expansion Civic Center Expansion & Fire Stations. August 18, Member SIPC/FINRA 8/14/2014 1
|
|
|
- Isaac Reynolds
- 5 years ago
- Views:
Transcription
1 City of Rapid City Presentation on Civic Center Expansion Civic Center Expansion & Fire Stations August 18, /14/2014 1
2 Agenda The Projects Certificates of Participation (COP) structure Historical Interest Rates Impact to Vision Fund Current and Proposed CIP & Vision Fund Timeline 8/14/2014 2
3 The Projects Financial planning for an issuer Construction cost of $180 million Rushmore Plaza Civic Center Expansion Project $180 million Construction cost of $200 million Rushmore Plaza Civic Center Expansion Project $180 million Fire Station Projects $20 million New main fire station and a fire station at Western Dakota Tech 8/14/2014 3
4 Certificates of Participation Structure Explanation of Debt Limit Lease-Purchase A Trustee becomes the technical owner of the property and leases it to the City subject to the City s right to terminate on an annual basis. The City makes lease payments to repay the cost of the improvements and an Underwriter sells certificates of participation in that lease to numerous and various types of investors. The City retains operational control and gets full title to the property upon termination of the ground lease. Ground Lease City as Lessor will enter into a Ground Lease with Trustee as Lessee for all property where any improvements will be made for $1 for a term that is typically 10 years longer than Lease. The Ground Lease provides that it will be automatically extended for additional 10 years if Lease has not been paid off on scheduled maturity date. Upon termination of the ground lease full and unencumbered title goes to the City. 8/14/2014 4
5 Certificates of Participation Structure Lease-Purchase Agreement The Trustee as Lessor will enter into a Lease-Purchase Agreement (Lease) with the City as Lessee for a term (not more than 30 years) equal to the term and lease payments on Certificates of Participation (COPs). The COPs are issued by the City with the proceeds going to the Trustee to pay for the construction of the improvements as well as to fund a Reserve Fund and pay costs of issuance. The Trustee agrees to construct the improvements but appoints the City as it agent to perform all acts relating thereto including designing, bidding and entering into contracts, etc. The City will also be responsible for all operations, maintenance and insurance etc. The Lease will provide that the City has the right on or before July 1 of each year to give notice of its intent not to renew for the following calendar year, which is also the City s fiscal year. If the City does not give this notice then the Lease will remain in full force and effect and the City must appropriate money for that following year. In the event of termination of the lease by the City the Trustee (on behalf of the Certificate Owners) would take possession and control of property on behalf of Certificate Owners until the expiration of the ground lease. 8/14/2014 5
6 Certificates of Participation Structure Trust Indenture The City will join into an Indenture of Trust (Indenture) with the Trustee that will set forth the Trustee duties, responsibilities, and rights relative to its role as Trustee relative to the Certificates of Participation (COPs). This would also provide for Trustee s role relative to the various funds created under the Indenture including duties and responsibilities relating to the investment of any money in the funds. It would also set forth the Trustee s duties relative the Certificate owners in the event of termination of the Lease by the City as well as in the case of any default. Impact of non-appropriation Loss of Debt Service Reserve Fund Significantly reduced Rating Significant increase in borrowing cost Loss of facility for the remaining term of the lease plus 20 years Litigation cost 8/14/2014 6
7 Historic Interest Rate 8/14/2014 7
8 Bond Buyer: 20 Bond Index January August 14, Interest Rates Years 8/14/2014 8
9 6.00 January August 14, Interest Rates year low Years 8/14/2014 9
10 Vision Account Future Vision Projects and Debt Service 8/14/
11 Construction Fund: $180 million Year CIP/Vision Fund CIP Account Vision Account Debt Service Vision Account after Debt Service ,400, ,700, ,700, ,570, ,285, ,285, ,022, ,798, ,899, ,899, ,495, ,403, ,088, ,544, ,544, ,687, ,856, ,442, ,221, ,221, ,690, ,531, ,864, ,932, ,932, ,688, ,243, ,358, ,679, ,679, ,689, ,989, ,926, ,463, ,463, ,687, ,775, ,572, ,286, ,286, ,689, ,596, ,301, ,150, ,150, ,690, ,460, ,116, ,058, ,058, ,689, ,368, ,021, ,010, ,010, ,689, ,321, ,023, ,011, ,011, ,689, ,322, ,124, ,062, ,062, ,687, ,374, ,330, ,165, ,165, ,690, ,475, ,646, ,323, ,323, ,690, ,633, ,079, ,539, ,539, ,692, ,847, ,633, ,816, ,816, ,691, ,125, ,314, ,157, ,157, ,690, ,466, ,130, ,565, ,565, ,690, ,874, ,087, ,043, ,043, ,690, ,353, ,191, ,595, ,595, ,688, ,907, ,451, ,225, ,225, ,689, ,535, ,873, ,936, ,936, ,688, ,248, ,467, ,733, ,733, ,692, ,041, ,240, ,620, ,620, ,692, ,928, ,202, ,601, ,601, ,690, ,910, ,362, ,681, ,681, ,687, ,993, ,731, ,865, ,865, ,692, ,173, ,317, ,158, ,158, ,692, ,466, ,133, ,566, ,566, ,691, ,874, Total for other Vision Projects: $ 465,101, Assuming a 5.0% Growth 8/14/
12 Construction Fund: $180 million $60,000,000 $50,000,000 $40,000,000 $30,000,000 $20,000,000 Growth at 5% Debt Service $10,000,000 $0 8/14/
13 Construction Fund: $200 million Year CIP/Vision Fund CIP Account Vision Account Debt Service Vision Account after Debt Service ,400, ,700, ,700, ,570, ,285, ,285, ,480, ,798, ,899, ,899, ,410, , ,088, ,544, ,544, ,782, , ,442, ,221, ,221, ,027, ,194, ,864, ,932, ,932, ,028, ,903, ,358, ,679, ,679, ,026, ,652, ,926, ,463, ,463, ,029, ,433, ,572, ,286, ,286, ,029, ,256, ,301, ,150, ,150, ,028, ,122, ,116, ,058, ,058, ,028, ,029, ,021, ,010, ,010, ,028, ,982, ,023, ,011, ,011, ,028, ,983, ,124, ,062, ,062, ,030, ,031, ,330, ,165, ,165, ,029, ,135, ,646, ,323, ,323, ,030, ,293, ,079, ,539, ,539, ,026, ,512, ,633, ,816, ,816, ,028, ,788, ,314, ,157, ,157, ,029, ,127, ,130, ,565, ,565, ,029, ,536, ,087, ,043, ,043, ,026, ,017, ,191, ,595, ,595, ,030, ,565, ,451, ,225, ,225, ,030, ,195, ,873, ,936, ,936, ,030, ,906, ,467, ,733, ,733, ,029, ,704, ,240, ,620, ,620, ,026, ,593, ,202, ,601, ,601, ,030, ,570, ,362, ,681, ,681, ,030, ,651, ,731, ,865, ,865, ,029, ,836, ,317, ,158, ,158, ,026, ,132, ,133, ,566, ,566, ,030, ,536, Total for other Vision Projects: $426,943, Assuming a 5.0% Growth 8/14/
14 Construction Fund: $200 million $60,000,000 $50,000,000 $40,000,000 $30,000,000 $20,000,000 Growth at 5% Debt Service $10,000,000 $0 8/14/
15 Construction Fund: $200 million Year CIP/Vision Fund CIP Account Vision Account Debt Service Vision Account after Debt Service ,400, ,700, ,700, ,102, ,051, ,051, ,480, ,825, ,412, ,412, ,410, , ,569, ,784, ,784, ,782, , ,336, ,168, ,168, ,027, , ,127, ,563, ,563, ,028, , ,940, ,970, ,970, ,026, , ,779, ,389, ,389, ,029, ,359, ,642, ,821, ,821, ,029, ,791, ,531, ,265, ,265, ,028, ,237, ,447, ,723, ,723, ,028, ,694, ,391, ,195, ,195, ,028, ,167, ,362, ,681, ,681, ,028, ,653, ,363, ,181, ,181, ,030, ,151, ,394, ,697, ,697, ,029, ,667, ,456, ,228, ,228, ,030, ,197, ,550, ,775, ,775, ,026, ,748, ,676, ,338, ,338, ,028, ,309, ,836, ,918, ,918, ,029, ,888, ,032, ,516, ,516, ,029, ,487, ,263, ,131, ,131, ,026, ,105, ,530, ,765, ,765, ,030, ,734, ,836, ,418, ,418, ,030, ,387, ,181, ,090, ,090, ,030, ,060, ,567, ,783, ,783, ,029, ,754, ,994, ,497, ,497, ,026, ,470, ,464, ,232, ,232, ,030, ,201, ,978, ,989, ,989, ,030, ,959, ,537, ,768, ,768, ,029, ,739, ,143, ,571, ,571, ,026, ,545, ,797, ,398, ,398, ,030, ,368, Total for other Vision Projects: $184,307, Assuming a 3.0% Growth 8/14/
16 Sales Tax Funds Current & Proposed Structure 8/14/
17 Sales Tax Fund Structure Existing and Recommended Sales Tax Fund Structure City of Rapid City Present Fund Structure General Fund 46% of total $23.4 million (2014) CIP Fund 23% of total $11.7 million (2014) Vision Fund 23% of total $11.7 Million (2014) Utility Fund 8% of total $4.1Million (2014) Recommended Fund Structure General Fund 46% of total $23.4 million (2014) CIP / Vision Fund 46% of total $23.4Million (2014) Utility Fund 8% of total $4.1Million (2014) General Fund 46% of total $23.4 million (2014) CIP Account 23% of total $11.7 million (2014) Accounting Structure CIP / Vision Fund Vision Account 23 % of total $11.7 Million (2014) Utility Fund 8% of total $4.1 million 8/14/
18 Sales Tax Fund Structure Existing and Recommended Sales Tax Fund Structure City of Rapid City Present Fund Structure General Fund 46% of total $23.4 million (2014) CIP Fund 23% of total $11.7 million (2014) Vision Fund 23% of total $11.7 Million (2014) Utility Fund 8% of total $4.1Million (2014) Recommended Fund Structure General Fund 46% of total $23.4 million (2014) CIP / Vision Fund 46% of total $23.4Million (2014) Utility Fund 8% of total $4.1Million (2014) General Fund 46% of total $23.4 million (2014) CIP Account 23% of total $11.7 million (2014) Accounting Structure CIP / Vision Fund Vision Account 23 % of total $11.7 Million (2014) Utility Fund 8% of total $4.1 million 8/14/
19 Reasoning behind creating one fund With the current Vision fund and minimal coverage of 1.25x debt service, some other sales tax fund needs to be pledged in order to fund more than $147 million in project cost Rating agencies generally expect a 1.50x or higher test for coverage and Additional Bonds Test (ABT) on sales tax issues This structure will reflect a very strong initial 1.80 times coverage This structure allows the City to include 1.50x ABT (currently 1.25x) which may improve the rating with only some limited ability to issue additional debt in the future The CIP has no other future obligations payable from it and has only been used as the pledged revenue for the Municipal Recycling Facility (MRF) in the past With either financing, we believe it is in the City s best interest to be transparent and understandable to investors 8/14/
20 Timeline Direct City Staff to prepare an ordinance revision to create one common fund with separate equal accounts for CIP and Vision First reading potentially for September 2 Direct City Staff to proceed with agreement with Bond Counsel Direct City Staff to proceed with a financing plan for project costs not to exceed $180,000,000 for the Rushmore Plaza Civic Center and $20,000,000 for a new main fire station and a new fire station at Western Dakota Technical Institute 8/14/
City of Rapid City Rushmore Plaza Civic Center Arena Expansion Project Municipal Advisor Agreement
City of Rapid City Rushmore Plaza Civic Center Arena Expansion Project 2014-2015 Municipal Advisor Agreement THIS AGREEMENT made and entered into by and between the City of Rapid City hereinafter referred
MASTER BOND ORDINANCE NO
MASTER BOND ORDINANCE NO. 2015 01 COMPILED MASTER WATER BOND ORDINANCE (As adopted on October 7, 2015, and including amendments adopted on December 9, 2015, January 27, 2016 and August 10, 2016) COMPILED
EXHIBIT A. The purpose of this Debt Management Policy is to assist the County in pursuit of the following objectives:
EXHIBIT A 4.7.1 Debt Management Policy This Debt Management Policy sets forth certain debt management objectives for the County and establishes overall parameters for issuing and administering the County
Key Components of a State Sponsored, Bond Financed Student Loan Program HESAA Board Meeting January 24, 2018 Student Loan Revenue Bonds Internal/HESAA Use Only Security Information Obligation to pay interest
CITY OF PITTSBURG, KANSAS DEBT MANAGEMENT POLICY
CITY OF PITTSBURG, KANSAS DEBT MANAGEMENT POLICY INTRODUCTION The management of governmental debt requires good legal advice and a good understanding of the principles of public finance. A formal debt
1. POLICY 2. PROCEDURES REGARDING BONDS. 2.1 Issuance of Bonds
ISSUANCE AND RETIREMENT OF BONDS, NOTES AND OTHER OBLIGATIONS OF THE CONNECTICUT RESOURCES RECOVERY AUTHORITY BOARD OF DIRECTORS POLICY AND PROCEDURE No. 015 1. POLICY It is the policy of the Connecticut
COUNCIL POLICY NO. C-2
Exhibit 1 COUNCIL POLICY NO. C-2 TITLE: POLICY: DEBT MANAGEMENT POLICY See attachment. REFERENCE: Finance Committee Report dated 8/17/15, Agenda Item No. 3.a (Supplants Finance Committee Reports dated
LONG ISLAND POWER AUTHORITY Debt Management Policy (as amended August 2018)
LONG ISLAND POWER AUTHORITY Debt Management Policy (as amended August 2018) I. Purpose of Debt Management Policy The debt management policy sets forth the parameters for issuing and managing the debt of
2016 Strategic Financial Plan Debt Management Policy
Attachment G Page 1 of 15 Debt Management Policy Introduction The County of Orange Debt Management Policy provides guidance for the issuance of bonds and other forms of indebtedness to finance capital
Accrued Interest A currently unpaid amount of interest that has accumulated since the last payment on a bond or other fixed-income security.
Accrued Interest A currently unpaid amount of interest that has accumulated since the last payment on a bond or other fixed-income security. Ad Valorem Tax Translated as according to value, it is a levy
1. The City of Boise shall annually adopt a balanced budget where operating revenues are equal to, or exceed, operating expenditures.
Accounting, Auditing, and Financial Reporting Policies 1. The shall promote organized financial planning, budgeting, and accounting to assure disclosure of all financial transactions and to facilitate
CITY OF TEXARKANA, TEXAS
CITY OF TEXARKANA, TEXAS Debt Management Policy The City of Texarkana, Texas (the City ) recognizes that the foundation of any wellmanaged debt program is a comprehensive debt management and post issuance
PASSED 12/12/16 BY A VOTE OF 5-1, BOWKER VOTING NO. Indiana Bond Bank's 2017 Advance Funding Program ORDINANCE #26, 2016
PASSED 12/12/16 BY A VOTE OF 5-1, BOWKER VOTING NO Indiana Bond Bank's 2017 Advance Funding Program ORDINANCE #26, 2016 AN ORDINANCE authorizing the City of Valparaiso, Indiana, to make temporary loans
2016 Strategic Financial Plan Debt Management Policy
Attachment A Page 1 of 16 Debt Management Policy Introduction The County of Orange Debt Management Policy provides guidance for the issuance of bonds and other forms of indebtedness to finance capital
Public Finance Authority Post-Issuance Tax Compliance Procedures For Tax-Exempt Bonds (Multifamily Housing)
Public Finance Authority Post-Issuance Tax Compliance Procedures For Tax-Exempt Bonds (Multifamily Housing) August 3, 2011 The purpose of these Post-Issuance Tax Compliance Procedures is to establish policies
Public Finance Authority Post-Issuance Tax Compliance Procedures For Tax-Exempt Bonds (Qualified 501(c)(3) Bonds)
Public Finance Authority Post-Issuance Tax Compliance Procedures For Tax-Exempt Bonds (Qualified 501(c)(3) Bonds) August 3, 2011 The purpose of these Post-Issuance Tax Compliance Procedures is to establish
2011 AAPA Port Administration & Legal Issues Seminar Project Financing Structures
2011 AAPA Port Administration & Legal Issues Seminar Project Financing Structures Presented By: Michael K. Reppe, Partner Kutak Rock LLP 1801 California Street, Suite 3100 Denver, Colorado 80202 April
City of Montclair, California Debt Management Policy
City of Montclair, California Debt Management Policy POLICY This Debt Management Policy sets forth certain debt management objectives for the City of Montclair (City), and establishes overall parameters
PAGES: 9 # RESOLUTION: RESOLUTION DATE: 9/25/1991 ENABLING RELATED POLICIES:
CHAPTER: Fiscal Management POLICY: Debt Financing PAGES: 9 SUBJECT: Debt RELATED POLICIES: ENABLING #19-1991 RESOLUTION: RESOLUTION DATE: 9/25/1991 OFFICE WITH PRIMARY RESPONSIBILITY: REVISED RESOLUTION
Reviewing Bond Offering and Legal Documents
Reviewing Bond Offering and Legal Documents Allen Robertson Shareholder, Robinson, Bradshaw & Hinson, P.A. President, National Association of Bond Lawyers Southern Municipal Finance Society February 20,
City of Tucson Finance
City of Tucson Finance Proudly Presented By: Silvia Amparano, CPA, CPFO Finance Director Association of Government Accountants Southern Arizona Chapter October 12, 2016 1 Agenda Governmental Accounting
RESOLUTION NO
RESOLUTION NO. 1992-08 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF WINTER PARK, FLORIDA, SUPPLEMENTING AND AMENDING IN CERTAIN RESPECTS RESOLUTION NO. 1898-05 OF THE CITY ADOPTED ON MAY 9, 2005,
RESOLUTIONS & BACKUP INFORMATION FOR THE REGULAR MEETING OF DECEMBER 14, 2017
RESOLUTIONS & BACKUP INFORMATION FOR THE REGULAR MEETING OF DECEMBER 14, 2017 ITEM A Consider Approval of a Resolution Authorizing the Sale of Series 2017 Revenue Bonds for the Purpose of Advanced Refunding
San Antonio Water System San Antonio, Texas. INVESTMENT POLICY December 2010
San Antonio Water System San Antonio, Texas INVESTMENT POLICY December 2010 1-0. PURPOSE: The purpose of the Investment Policy of the San Antonio Water System Board of Trustees (the Board ) is to establish
Forsyth County Planning and Financing Capital Projects
Forsyth County Planning and Financing Capital Projects Presented to: Joint Legislative Committee on Local Government Presented by: Paul L. Fulton, Jr. Chief Financial Officer, Forsyth County Why Issue
Debt Management Policy
Debt Management Policy Policy Number: 01-07 Date: January 9, 2017 Purpose: The City of DeKalb developed this Debt Management Policy to help ensure the City s credit worthiness and to provide a functional
INLAND EMPIRE UTILITIES AGENCY DEBT MANAGEMENT POLICY May 2016
Table of Contents Policy Statement... 3 Purpose of Policy... 3 Purpose and Use of Debt... 4 Debt Management... 5 Debt... 6 Coverage Target... 6 Debt Instrument Rating... 6 Debt Structuring... 6 Types of
The bonds may be issued for the following projects/purposes:
Submitted by: Richard J. Nork, Vice President, Finance and Business Operations Recommendation AUTHORIZATION TO SELL BONDS The Administration recommends that the Board of Governors adopt the attached Resolution
Debt Management Best Practices
10:30 12:10 May 9, 2018 240 Complex 112 th Annual Conference May 6-9, 2018 St. Louis, Missouri Moderator/Speakers: Bryan Kidney Director of Finance, City of Lawrence, KS Lisa Marie Harris Director of Finance/Treasurer,
PATTERSON PUBLIC FINANCING AUTHORITY ANNUAL FINANCIAL REPORT AS OF JUNE 30, 2015 WITH INDEPENDENT AUDITOR'S REPORT
ANNUAL FINANCIAL REPORT AS OF WITH INDEPENDENT AUDITOR'S REPORT ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED TABLE OF CONTENTS Page Independent Auditor's Report 1-2 Government-wide Financial Statements Statement
NOTICE of AMENDMENT TO BOND DOCUMENTS
NOTICE of AMENDMENT TO BOND DOCUMENTS January 9, 2013 To the Holders of: PORT AUTHORITY OF COLUMBIANA COUNTY, OHIO $37,500,000 Solid Waste Facility Revenue Bonds (Apex Environmental, LLC Project), Series
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE UNIVERSITY OF ARKANSAS:
RESOLUTION AUTHORIZING THE ISSUANCE OF UP TO $120,000,000 IN AGGREGATE PRINCIPAL AMOUNT OF BOARD OF TRUSTEES OF THE UNIVERSITY OF ARKANSAS ATHLETIC FACILITIES REVENUE BONDS (FAYETTEVILLE CAMPUS), FOR THE
DEBT POLICY SAN JUAN COUNTY PUBLIC HOSPITAL DISTRICT #3 D/B/A/ORCAS ISLAND HEALTH CARE DISTRICT. Section I. Purpose and Overview
SAN JUAN COUNTY PUBLIC HOSPITAL DISTRICT #3 D/B/A/ORCAS ISLAND HEALTH CARE DISTRICT DEBT POLICY Section I. Purpose and Overview This Debt Policy is adopted by the San Juan County Public Hospital District
LOUISIANA ADMINISTRATIVE CODE Title 71 - Treasury Public Funds Part III. Bond Commission Debt Management. Page The Commission - Purpose 1
LOUISIANA ADMINISTRATIVE CODE Title 71 - Treasury Public Funds Part III. Bond Commission Debt Management Page The Commission - Purpose 1 Original Rules Bond Commission Meetings 1 Application Information
THE TAX INCREMENT FINANCE AUTHORITY ACT Act 450 of The People of the State of Michigan enact:
THE TAX INCREMENT FINANCE AUTHORITY ACT Act 450 of 1980 AN ACT to prevent urban deterioration and encourage economic development and activity and to encourage neighborhood revitalization and historic preservation;
THE TAX INCREMENT FINANCE AUTHORITY ACT Act 450 of The People of the State of Michigan enact:
THE TAX INCREMENT FINANCE AUTHORITY ACT Act 450 of 1980 AN ACT to prevent urban deterioration and encourage economic development and activity and to encourage neighborhood revitalization and historic preservation;
Debt 101: Everything an Issuer Should Know
Monday MAY 22, 2017 2:40-3:55 PM Debt 101: Everything an Issuer Should Know MODERATOR SPEAKERS C. LaShea Lofton Director of Finance, City of Dayton, OH Jennifer Brown CFO, City of Sugar Land, TX Kristin
Industrial Revenue Bonds in South Carolina
Industrial Revenue Bonds in South Carolina - 2010 Prepared by Nexsen Pruet, LLC April C. Lucas, Esquire alucas@nexsenpruet.com 1230 Main Street, Ste. 700 P.O. Drawer 2426 Columbia, SC 29202 Telephone (803)
Debt Management Standard Operating Procedure
Debt Management Standard Operating Procedure October 19, 2018 College written procedure that states the authority to issue debt, what types of debt may be issued, structure of the debt, the process, and
THE ANIMAL FOUNDATION FINANCIAL STATEMENTS DECEMBER 31, 2017 AND 2016
FINANCIAL STATEMENTS FINANCIAL STATEMENTS Table of Contents Independent Auditor s Report... 1 Financial Statements: Statements of financial position... 2 Statements of activities... 3 Statements of functional
Alice Ostdiek. Issuing Municipal Bonds: Understanding Continuing Disclosure Obligations and the 2019 Amendments
Issuing Municipal Bonds: Understanding Continuing Disclosure Obligations and the 2019 Amendments WASHINGTON PUBLIC TREASURERS ASSOCIATION Spring 2019 Conference Chelan, Washingto n Alice Ostdiek Stradling
City Council Information Form
City Council Information Form DATE: 11/24/2015 ASSIGNED STAFF: Mark Dunning DEPARTMENT: Development Center TYPE OF FORM: Public Hearing Form No.: 5142 APPROVALS: fin: CLAMB 11/24/2015 dept: MDUNNING 11/24/2015
/4 Chié in -ncial Officer
i SR -1011 Los Angeles World Airports REPORT TO THE BOARD OF AIRPORT COMMISSIONERS ü,- ' i. b
Offering memorandum. $956,200,000 Student Loan Asset Backed Notes, Series Higher Education Loan Authority of the State of Missouri
Offering memorandum $956,200,000 Student Loan Asset Backed Notes, Series 2013-1 (LIBOR Floating Rate Notes) Higher Education Loan Authority of the State of Missouri Issuer The Higher Education Loan Authority
INFORMATION REGARDING PRIVATE ACTIVITY BONDS (Tax-exempt and Taxable)
INFORMATION REGARDING PRIVATE ACTIVITY BONDS (Tax-exempt and Taxable) GENERAL INFORMATION PLACEMENT OF BONDS TERMS Conditions of the bond market and the particular needs of the borrower will determine
Draft September 21, 2017
Draft September 21, 2017 Home Office: Ambac Assurance Corporation c/o CT Corporation Systems 44 East Mifflin Street Madison, Wisconsin 53703 Administrative Office: Ambac Assurance Corporation One State
Structuring and Marketing a Negotiated Bond Issue
Structuring and Marketing a Negotiated Bond Issue Presentation to: Tina K. Neal Senior Vice President Piper Jaffray & Co. 3245 Maidens Road Powhatan, VA 23139 Tel: 804-598-7601 Fax: 804-598-8261 tina.k.neal@pjc.com
DEBT SERVICE REQUIREMENTS
DEBT SERVICE REQUIREMENTS BACKGROUND In North Carolina, an agency known as the Local Government Commission, the LGC, oversees local government bonded debt. The LGC must approve all bonded debt of local
PENNSYLVANIA TURNPIKE COMMISSION POLICY AND PROCEDURE
PTC 502005539 (12/05) Policy Subject: 7.7 - Interest Rate Swap Management Policy PENNSYLVANIA TURNPIKE COMMISSION POLICY AND PROCEDURE This is a statement of official Pennsylvania Turnpike Commission Policy
Dallas Austin Chicago Houston Miami New York San Antonio San Diego
January 2017 DIMMIT COUNTY, TEXAS Financing 101 Dallas Austin Chicago Houston Miami New York San Antonio San Diego Financing Team Issuer A state, political subdivision, agency or authority which borrows
There is no legal debt limit for counties in Virginia, since the issuance of all county general obligation debt is subject to referendum.
DEBT MANAGEMENT DEBT MANAGEMENT AND POLICIES Pursuant to the Constitution of Virginia and the Public Finance Act, the County is authorized to issue general obligation bonds secured by a pledge of its full
DEBT MANAGEMENT POLICY
DEBT MANAGEMENT POLICY CROW WING COUNTY BRAINERD, MINNESOTA Adopted by County Board July 9, 2013 Amended July 25, 2017 Our Vision: Being Minnesota s favorite place. Our Mission: Serve well. Deliver value.
TAX EXEMPTION AGREEMENT. between. CITY OF MAPLE GROVE, MINNESOTA, as Issuer. U.S. BANK NATIONAL ASSOCIATION as Trustee, and
DRAFT: 3/21/2017 between CITY OF MAPLE GROVE, MINNESOTA, as Issuer U.S. BANK NATIONAL ASSOCIATION as Trustee, and MAPLE GROVE HOSPITAL CORPORATION as the Corporation Dated as of May 1, 2017 Executed as
Computation of the General Obligation Debt Margin ($ in thousands) TOTAL ESTIMATED ACTUAL PROPERTY VALUATION $134,976,735
Debt Service Funds Long Term Debt and Lease Obligations Provided herein is an overview of long-term debt and lease obligations, which addresses the methods used by the City and County of Denver to finance
BOARD POLICY 6350 DESERT COMMUNITY COLLEGE DISTRICT
BOARD POLICY 6350 DESERT COMMUNITY COLLEGE DISTRICT DEBT MANAGEMENT Purpose: The purpose of this Debt Management Policy is to provide functional tools for debt management, capital planning, and cash flow
BALLOT MEASURE FULL TEXT
BALLOT MEASURE FULL TEXT Transactions and Use Tax Measure City of Culver City November, 01 Special Consolidated Municipal Election Culver City Neighborhood Safety and City Services Protection Measure.
PATTERSON PUBLIC FINANCING AUTHORITY ANNUAL FINANCIAL REPORT AS OF JUNE 30, 2016 WITH INDEPENDENT AUDITOR'S REPORT
ANNUAL FINANCIAL REPORT AS OF WITH INDEPENDENT AUDITOR'S REPORT ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED TABLE OF CONTENTS Page Independent Auditor's Report 1-2 Government-wide Financial Statements Statement
Funding Transportation Improvements
Funding Transportation Improvements Nick Anhut, Municipal Advisor Ehlers & Associates December 8, 2015 Introduction Transportation / Transit in Minnesota Funding Environment Financing Basics Authority
CALIFORNIA GOVERNMENT CODE SECTION TITLE 5. DIVISION 2. PART 1. CHAPTER 4. - ARTICLE 1. Investment of Surplus
CALIFORNIA GOVERNMENT CODE SECTION 53600-53608 TITLE 5. DIVISION 2. PART 1. CHAPTER 4. - ARTICLE 1. Investment of Surplus 53600. As used in this article, "local agency" means county, city, city and county,
TAX COMPLIANCE AGREEMENT. Dated as of May 1, Between the CITY OF BRENTWOOD, MISSOURI. and. UMB BANK, N.A., as Trustee
GILMORE & BELL, P.C. DRAFT 1 APRIL 1, 2015 FOR DISCUSSION PURPOSES ONLY TAX COMPLIANCE AGREEMENT Dated as of May 1, 2015 Between the CITY OF BRENTWOOD, MISSOURI and UMB BANK, N.A., as Trustee $[Principal]
FULL TEXT OF MEASURE U CITY OF PLACENTIA. The People of the City of Placentia do ordain as follows:
FULL TEXT OF MEASURE U CITY OF PLACENTIA The People of the City of Placentia do ordain as follows: THE PEOPLE OF THE CITY OF PLACENTIA DO ORDAIN AS FOLLOWS: Section 1. TITLE. This ordinance shall be known
CITY OF SAN CARLOS DEBT MANAGEMENT POLICY. Effective: January 22, 2018
CITY OF SAN CARLOS DEBT MANAGEMENT POLICY Effective: January 22, 2018 This Debt Management Policy (this Policy ) establishes the parameters within which debt may be issued and administered by the City
fil " a BOARD OF AIRPORT COMMISSIONERS REPORT TO THE torn-III". SUBJECT: Airport Revenue Bond Issuance - Subordinate Series 2018 D and E Bonds
1 1 RW JH MJ BY KV..01 fil Los Angeles W o r l d Airports REPORT TO THE BOARD OF AIRPORT COMMISSIONERS Meeting Date: Item 0? Approved by: Neri Esguerra-Olivares, Director of Finance 10/18/2018 4 Reviewed
PRELIMINARY OFFICIAL STATEMENT DATED APRIL 10, 2017
This Preliminary Official Statement and the information contained herein are subject to completion or amendment. These securities may not be sold nor may offers to buy be accepted prior to the time the
The date of this Official Statement is December 1, 2015
NEW ISSUE-BOOK ENTRY ONLY RATING: Moody s: MIG-2 See RATINGS herein) In the opinion of Bond Counsel, under existing law and assuming continuous compliance with the applicable provisions of the Internal
EXHIBIT A LETTER OF INTENT. between THE HOSPITAL FACILITIES AUTHORITY OF MULTNOMAH COUNTY, OREGON. and TERWILLIGER PLAZA, INC.
LETTER OF INTENT between THE HOSPITAL FACILITIES AUTHORITY OF MULTNOMAH COUNTY, OREGON and TERWILLIGER PLAZA, INC. THIS LETTER OF INTENT is between THE HOSPITAL FACILITIES AUTHORITY OF MULTNOMAH COUNTY,
$40,350,000. Student Housing Revenue Bonds (USG Real Estate Foundation IV, LLC Project) Series 2016
NEW ISSUE BOOK ENTRY ONLY Rating: Moody s: MIG 1 (See RATING herein) The delivery of the Bonds (as defined below) is subject to the opinion of Bond Counsel to the Issuer to the effect that, assuming compliance
COUNTY OF MONTEREY. Debt Management Policy
COUNTY OF MONTEREY Debt Management Policy July 25, 2017 Table of Contents SECTION 1 INTRODUCTION... 3 SECTION 2 DEBT ADVISORY COMMITTEE... 4 SECTION 3 ISSUANCE OF APPROVAL PROCESS... 5 SECTION 4 GENERAL
OFFERING CIRCULAR Puerto Rico Fixed Income Fund, Inc.
OFFERING CIRCULAR Puerto Rico Fixed Income Fund, Inc. Tax-Free Secured Obligations The Tax-Free Secured Obligations (the "Notes") are offered by Puerto Rico Fixed Income Fund, Inc. (the "Fund"), which
Mt. Diablo Unified School District Facilities Financing Programs and 2010 Measure C Board of Education
Mt. Diablo Unified School District Facilities Financing Programs and 2010 Measure C Board of Education Study Session March 9, 2015 Agenda Board of Education Study Session March 9, 2015 Program Update School
Board Policy on Debt Management Board of Trustees of Oregon Institute of Technology
Board Policy on Debt Management Board of Trustees of Oregon Institute of Technology 1.0 Authority of the Board of Trustees 1.1 Under ORS 352.107, Oregon Institute of Technology is authorized to borrow
The Special Assessment Bond issuance is proposed to finance three projects for a total of approximately $4.9 million as follows:
To: Harris Ranch Community Infrastructure District No.1 Board From: Anne Wescott, Galena Consulting Date: September 24, 2010 Re: September 28 th Meeting of the Harris Ranch Community Infrastructure District
City of Jeffersontown, Kentucky Kentucky League of Cities Funding Trust Lease Program Revenue Bonds, Variable Rate Series Financial Statements
Kentucky League of Cities Funding Trust Lease Program Revenue Bonds, Variable Rate Series 2000 Financial Statements Years Ended Table of Contents Page Independent Auditor's Report on Financial Statements...
Reading Area Water Authority A Component Unit of the City of Reading. Financial Statements
Financial Statements Table of Contents Page INDEPENDENT AUDITOR'S REPORT 1 and 2 MANAGEMENT'S DISCUSSION AND ANALYSIS 3 to 8 FINANCIAL STATEMENTS Statement of Net Position 9 Statement of Revenues, Expenses
Colorado Library Law The Quick Guide Regional Library Authorities CRS
Colorado State Library 201 East Colfax Ave., Room 309 Denver, CO 80203 Phone: 303-866-6900 Fax: 303-866-6940 Web: www.coloradostatelibrary.org Colorado Library Law The Quick Guide CRS 24-90-110.7 CRS 24-90-110.7..
The Goldman Sachs Group, Inc.
1 / 15 Prospectus Supplement to Prospectus dated December 5, 2006. $2,350,000,000* The Goldman Sachs Group, Inc. 6.125% Notes due February 2033 Filed Pursuant to Rule 424(b)(2) Registration Statement No.
PA TURNPIKE COMMISSION POLICY
POLICY SUBJECT: PA TURNPIKE COMMISSION POLICY This is a statement of official Pennsylvania Turnpike Policy RESPONSIBLE DEPARTMENT: NUMBER: 7.07 APPROVAL DATE: 05-07-2013 EFFECTIVE DATE: 05-07-2013 7.07
RESOLUTION NO
Execution Copy RESOLUTION NO. 2010-08 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF WINTER PARK, FLORIDA, SUPPLEMENTING AND AMENDING IN CERTAIN RESPECTS RESOLUTION NO. 1898-05 OF THE CITY ADOPTED
Town of East Greenwich. Overview of Municipal Bonds
Town of East Greenwich Overview of Municipal Bonds Table of Contents East Greenwich s Bond Rating Section 1 Existing Debt Service Section 2 Ways in Which to Measure Debt Section 3 Basics of Issuing Bonds
NOTICE OF NOTE SALE CITY OF WATERVLIET ALBANY COUNTY, NEW YORK $2,970,000 BOND ANTICIPATION NOTES
Sale Date: October 17, 2018 Time of Sale: 11:00 A.M. (Prevailing Time) Place of Sale: NOTICE OF NOTE SALE CITY OF WATERVLIET ALBANY COUNTY, NEW YORK $2,970,000 BOND ANTICIPATION NOTES - 2018 Munistat Services,
RBC Capital Markets. Bonds Dated: Date of Delivery Denomination: $5,000 Principal Due: as shown on the inside cover. Form: Book Entry Only
NEW ISSUE BOOK ENTRY ONLY RATING: Moody s Aa3 In the opinion of Ballard Spahr LLP ("Special Tax Counsel"), interest on the Bonds is excludable from gross income for federal income tax purposes, assuming
Public Finance Tools to Fund Infrastructure February 22, 2018
Public Finance Tools to Fund Infrastructure February 22, 2018 August 15, 2016 Presentation Title Second Line 1 Introductions JOAN MICHAELS AGUILAR DEPUTY CITYMANAGER ADMINSERVICES CITY OF DIXON KENNETH
Submitted by: Richard J. Nork, Vice President, Finance and Business Operations AUTHORIZATION TO SELL BONDS
Submitted by: Richard J. Nork, Vice President, Finance and Business Operations Recommendation AUTHORIZATION TO SELL BONDS The Administration recommends that the Board of Governors adopt the attached Resolution
There is no legal debt limit for counties in Virginia, since the issuance of all county general obligation debt is subject to referendum.
DEBT MANAGEMENT DEBT MANAGEMENT AND POLICIES Pursuant to the Constitution of Virginia and the Public Finance Act, the County is authorized to issue general obligation bonds secured by a pledge of its full
DEBT MANAGEMENT POLICY
DEBT MANAGEMENT POLICY County Sanitation District No. 8 of Los Angeles County October 2017 DOC 4295703 TABLE OF CONTENTS 1. Policy Statement... 1 2. Treasurer; Administration... 1 3. Purpose of Debt...
STATE BOARD OF REGENTS OF THE STATE OF UTAH STUDENT LOAN PURCHASE PROGRAM An Enterprise Fund of the State of Utah
An Enterprise Fund of the State of Utah Financial Statements AN ENTERPRISE FUND OF THE STATE OF UTAH FOR THE NINE MONTHS ENDED MARCH 31, 2014 TABLE OF CONTENTS Page MANAGEMENT S REPORT 1 FINANCIAL STATEMENTS:
Debt Management Policy
The Santa Rosa Regional Resources Authority Debt Management Policy Adopted June 13, 2017 Section I. Introduction Purpose and Overview In its publication entitled Best Practice Debt Management Policy, the
BEXAR COUNTY DEBT MANAGEMENT POLICY
BEXAR COUNTY DEBT MANAGEMENT POLICY Adopted by Commissioners Court on August 14, 2007 Revised October 7, 2008 Revised February 3, 2015 Revised March 21, 2017 Table of Contents Section Title Page 1 Purpose
BOND APPLICATION MEMPHIS CENTER CITY REVENUE FINANCE CORPORATION
BOND APPLICATION MEMPHIS CENTER CITY REVENUE FINANCE CORPORATION 1. Applicant: Lost in the Cosimos, LLC Company s Name: c/o Crosstown Arts 427 N. Watkins Memphis, TN 38104 Phone: 901.507.8034 Fax: Email:
Puerto Rico GNMA & U.S. Government Target Maturity Fund, Inc.
OFFERING CIRCULAR Puerto Rico GNMA & U.S. Government Target Maturity Fund, Inc. Tax-Free Secured Obligations The Tax-Free Secured Obligations (the "Notes") are offered by Puerto Rico GNMA & U.S. Government
PROVINCIAL COMPANIES REGULATION
Province of Alberta INSURANCE ACT PROVINCIAL COMPANIES REGULATION Alberta Regulation 124/2001 With amendments up to and including Alberta Regulation 45/2018 Office Consolidation Published by Alberta Queen
CITY COUNCIL AGENDA REPORT. DEPARTMENT: Administrative Services MEETING DATE: January 17, PREPARED BY: Emy-Rose Hanna, Management Analyst
CITY COUNCIL AGENDA REPORT DEPARTMENT: Administrative Services MEETING DATE: January 17, 2017 PREPARED BY: Emy-Rose Hanna, Management Analyst AGENDA LOCATION: CC-6 TITLE: Update to Debt Management Policy
$223,275,000 COLORADO HOUSING AND FINANCE AUTHORITY Single Family Mortgage Bonds
NEW ISSUE - Book-Entry Only INTEREST ON THE TAXABLE 2003 SERIES C-1 BONDS IS NOT EXCLUDED FROM GROSS INCOME FOR FEDERAL INCOME TAX PURPOSES. In the opinion of Sherman & Howard L.L.C., Bond Counsel, assuming
Advanced Municipal Lease Financing: Equipment Leasing for Research and Development
Advanced Municipal Lease Financing: Equipment Leasing for Research and Development Gregory V. Johnson Patton Boggs LLP 1660 Lincoln Street, Suite 1900 Denver, CO 80264 (303) 894-6187 Two Structures for
Reagan Holliday Edward Jones. This Presentation will be Available May 3rd at
Reagan Holliday Edward Jones Shannon Creighton Gilmore & Bell, P.C. Joy Howard WM Financial Strategies This Presentation will be Available May 3rd at http://www.munibondadvisor.com/resources.htm Copyright
Debt Management Policy
Debt Management Policy Adopted August 11, 2016 Policy Statement... 3 Purpose and Use of Debt... 3 Purpose of Policy... 3 Types of Debt... 4 General Provisions... 4 Conditions for Debt Issuance... 5 Standards
THE J. PAUL GETTY TRUST
NEW ISSUE - BOOK-ENTRY ONLY Moody s: Aaa S&P: AAA See RATINGS herein. In the opinion of Orrick, Herrington & Sutcliffe LLP, Bond Counsel to the Infrastructure Bank, based upon an analysis of existing laws,
Agreed Upon Procedures
Agreed Upon Procedures The Agreed Upon Procedures report was first completed in 2011. It was created in order to isolate the activity of the Auxiliary System because the audited financial statement for
Ohlone Community College District
Ohlone Community College District General Obligation Bond Refinancing Overview June 8, 2016 Outstanding General Obligation Bonds Issue Date Issue Amount Description Call Date Maturity Outstanding 6/19/2002
RESOLUTION EXHIBIT A DEBT MANAGEMENT POLICY CITY OF COCOA BEACH, FLORIDA
RESOLUTION 2014-09 EXHIBIT A DEBT MANAGEMENT POLICY A. ADMINISTRATION OF DEBT POLICY: The Chief Financial Officer (CFO) of the City of Cocoa Beach, Florida (the City ) is charged with overseeing and implementing