04-16-2019 SCORE
Presented by
Ade Ariwoola, Finance Director
April 16, 2019
SCORE Bond Refinancing
City Council Meeting
APRIL 16, 2019
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1 – Introduction
2 – Background
3 - Reason for the Bond
4 - Bond Sale Process
5 - Bond Details
Agenda
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Introduction
Bond Counsel –
Ms. Nancy Neraas, Attorney
Foster Pepper PLLC
Bond Underwriter -
Ms. Caitlin Caldwell, VP
KeyBanc Capital Markets
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Issue Date - 11/4/2009
Maturity Date - 1/1/2039
Callable Date - 1/1/2020
Original Amount - $86.325 M
City’s Original Amount - $15.522 M
12/31/2018 Balance - $12.892 M
Background
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1 – Savings From The Call Option
2 - Council Decision to Leave SCORE
3 – Council Decision to Control its Debt
4 – Callable Period
Reason For The Bond
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Process & Calendar
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Bond Amount - Not to Exceed $15 million
Bond Maturity - 15/20 years
Purpose - SCORE Capital Project
Type of Bond - Tax Exempt
Coordination - SCORE Schedule
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Bond Detail
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Consider 1st reading of the SCORE Bond Refinancing Ordinance.
Council Action
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Questions?
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