The Finance Committee recommends the Board adopt Resolution No. 26- 18 authorizing the issuance of Series 2026 Refunding Bonds for the Regional Wastewater

Staff Report & Agenda Item Details

The Finance Committee recommends the Board adopt Resolution No. 26- 18 authorizing the issuance of Series 2026 Refunding Bonds for the Regional Wastewater System. This issue refunds selected maturities of existing Series 2012, 2015 and 2016 Revenue Bonds and refunds $ 102 million of Extendable Commercial Paper project awards. This morning, 11 bids were received. Wells Fargo is the winning bidder with an interest rate of 4. 18 %. The net present value of the savings on the refunded bonds is 6%.

This motion is scored as EXPANDS_GOVERNMENT (Impact Weight: 9.3/10). Under the Bastiat Liberty Watchdog Index, measures that increase tax rates or fee schedules, issue new debt or Certificates of Obligation, expand regulatory/zoning restrictions on private land use, or authorize unbudgeted spending expansions reduce an official's Freedom Score when voted YES (and reward dissenting NO votes).