Title
An Ordinance 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 Improvement Revenue Bonds, Series 2025a in an Aggregate Principal Amount Not to Exceed $700,000,000, and the City of Colorado Springs, Colorado, Utilities System Refunding Revenue Bonds, Series 2025b in an Aggregate Principal Amount Not to Exceed $55,000,000, 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:
Travas Deal, Chief Executive Officer, Colorado Springs Utilities
Body
Summary:
The attached Ordinance addresses the issuance of the City of Colorado Springs, Colorado, Utilities System Improvement Revenue Bonds, Series 2025A ("2025A 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 Refunding Revenue Bonds, Series 2025B ("2025B Bonds"), which will refund the City of Colorado Springs, Colorado, Utilities System Improvement Revenue Bonds, Series 2015A ("2015A Bonds"), pay certain costs of issuing the Bonds; and pay the Surety Premium.
Background:
2025A Bonds: The 2025A 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 iss...
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