Title
An Ordinance Of The City Of Colorado Springs, Colorado Providing For The Extension, Betterment, Other Improvement And Equipment Of The City Of Colorado Springs Utilities System; Providing For The Issuance And Sale Of The City Of Colorado Springs, Colorado, Utilities System Improvement Revenue Bonds, Series 2026a (Tax-Exempt) In An Aggregate Principal Amount Not To Exceed $330,000,000, And The City Of Colorado Springs, Colorado, Utilities System Improvement Revenue Bonds, Series 2026b (Taxable) In An Aggregate Principal Amount Not To Exceed $140,000,000, Payable Solely Out Of The Net Revenues To Be Derived From The Operation Of The City Of Colorado Springs Utilities System; Authorizing The Execution By The City Of A Paying Agent Agreement, A Bond Purchase Agreement, And An Official Statement Related Thereto; And Providing Other Matters Relating Thereto.
Presenter:
Adam Hegstrom, Treasury and Finance Manager, Colorado Springs Utilities
Body
Summary:
The attached Ordinance addresses the issuance of the City of Colorado Springs, Colorado, Utilities System Improvement Revenue Bonds, Series 2026A (“2026A Bonds”), which will provide for the extension, betterment, other improvement and equipment of the City of Colorado Springs Utilities System; pay certain costs of issuing the Bonds; and pay the Surety Premium.
The attached Ordinance also addresses the issuance of the City of Colorado Springs, Colorado Utilities System Improvement Revenue Bonds, Series 2026B (Taxable) (“2026B Bonds”), which will provide for the extension, betterment, other improvement and equipment of the City of Colorado Springs Utilities System; pay certain costs of issuing the Bonds; and pay the Surety Premium.
Background:
2026A Bonds: The 2026A Bonds will provide for the extension, betterment, other improvement and equipment of the City of Colorado Springs Utilities System. It has been determined that the issuance of these bonds is beneficial to the City at this time.
2026B ...
Click here for full text