Placement: Resolutions
Action Requested: Motion / Vote
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Resolution 26-R33, Authorizing the Issuance of Not Exceeding $75,000,000 in Aggregate Principal Amount of its City of Port St. Lucie, Florida Special Obligation Refunding and Improvement Revenue Bonds, Series 2026 to Finance Certain Capital Improvements Related to the Torino Regional Park Project and to Refund a Portion of the City's Outstanding Special Assessment Refunding Bonds, Series 2016 (Southwest Annexation Special Assessment District No. 1) and a Portion of the City's Outstanding Taxable Special Obligation Refunding Revenue Bonds, Series 2017, in Order to Achieve Debt Service Savings; Covenanting To Budget And Appropriate Legally Available Non-Ad-Valorem Revenues To Pay Debt Service On the Bonds; Providing for the Rights of the Holders of Said Bonds; Making Certain Other Covenants and Agreements in Connection with Such Bonds; Authorizing a Negotiated Sale of Said Bonds; Delegating Certain Authority to the City Manager for the Authorization, Execution and Delivery of a Bond Purchase Agreement with Respect thereto, and the Approval of the Terms and Details of Said Bonds; Establishing a Book-Entry Registration System for Such Bonds; Appointing the Paying Agent and Registrar for Said Bonds; Authorizing the Distribution of a Preliminary Official Statement and the Execution and Delivery of an Official Statement with Respect to Such Bonds; Authorizing the Execution and Delivery of Escrow Deposit Agreements and the Appointment of Escrow Agents Thereto; Authorizing the Execution and Delivery of a Continuing Disclosure Certificate; and Providing for an Effective Date for this Resolution.
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Submitted By: Stephen Okiye, Finance Director, Finance Department
Strategic Plan Link: The City's Mission to utilize fiscal responsibility.
Executive Summary (General Business): Staff recommends the City of Port St. Lucie, Florida issue Special Obligation Refunding Revenue Bonds and Torino Regional Park, Series...
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