City of Colorado Springs - File #: 22-466

• File #: 22-466
• Version: 2
• Type: Ordinance
• Status: Mayor's Office
• File created: 7/5/2022
• In control: City Council
• On agenda: 8/9/2022
• Final action: 8/9/2022
• Title: Ordinance No. 22-43 of the City Of Colorado Springs, Colorado Providing for the Refunding of Certain Outstanding Utilities System Revenue Bonds of the City; 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 Refunding Revenue Bonds, Series 2022A in an Aggregate Principal Amount Not to Exceed $150,000,000, and the City of Colorado Springs, Colorado, Utilities System Improvement Revenue Bonds, Series 2022B in an Aggregate Principal Amount Not to Exceed $185,000,000, 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, Escrow Agreement, a Bond Purchase Agreement and an Official Statement Related Thereto; and Providing Other Matters Relating Thereto. Presenter: Tristan Gearhart, Chief P...

Date	Ver.	Action By	Action	Result
8/9/2022	1	City Council	finally passed	Pass
7/26/2022	1	City Council	approved on first reading	Pass

Title
Ordinance No. 22-43 of the City Of Colorado Springs, Colorado Providing for the Refunding of Certain Outstanding Utilities System Revenue Bonds of the City; 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 Refunding Revenue Bonds, Series 2022A in an Aggregate Principal Amount Not to Exceed $150,000,000, and the City of Colorado Springs, Colorado, Utilities System Improvement Revenue Bonds, Series 2022B in an Aggregate Principal Amount Not to Exceed $185,000,000, 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, Escrow Agreement, a Bond Purchase Agreement and an Official Statement Related Thereto; and Providing Other Matters Relating Thereto.

Presenter:
Tristan Gearhart, Chief Planning and Finance Officer, Colorado Springs Utilities
Aram Benyamin, Chief Executive Officer, Colorado Springs Utilities

Summary:
The attached Ordinance addresses the issuance of the City of Colorado Springs, Colorado, Utilities System Refunding Revenue Bonds, Series 2022A ("2022A Bonds"), which will refund the following City of Colorado Springs, Colorado, Refunding Revenue Bonds, Series 2012B ("2012B Bonds"), Series 2012C-1 ("2012C-1 Bonds"),and Series 2012C-2 ("2012C-2 Bonds"), 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 2022B ("2022B 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:
2022A Bonds: The 2012B, 2012C-1, and 2012C-2 Bo...