City of Colorado Springs - File #: 20-173

• File #: 20-173
• Version: 2
• Type: Ordinance
• Status: Mayor's Office
• File created: 4/13/2020
• In control: City Council
• On agenda: 6/9/2020
• Final action: 6/9/2020
• Title: Ordinance No. 20-34 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 2020A in an aggregate principal amount not to exceed $285,000,000, the City of Colorado Springs, Colorado, Utilities System Refunding Revenue Bonds, Series 2020B (Private Activity) in an aggregate principal amount not to exceed $68,500,000 and the City of Colorado Springs, Colorado, Utilities System Improvement Revenue Bonds, Series 2020C in an aggregate principal amount not to exceed $110,000,000 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, Es...

Date	Ver.	Action By	Action	Result
6/9/2020	1	City Council	finally passed	Pass
5/26/2020	1	City Council	approved on first reading	Pass

Title
Ordinance No. 20-34 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 2020A in an aggregate principal amount not to exceed $285,000,000, the City of Colorado Springs, Colorado, Utilities System Refunding Revenue Bonds, Series 2020B (Private Activity) in an aggregate principal amount not to exceed $68,500,000 and the City of Colorado Springs, Colorado, Utilities System Improvement Revenue Bonds, Series 2020C in an aggregate principal amount not to exceed $110,000,000 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 Agreements, a Bond Purchase Agreement and an Official Statement related thereto; and providing other matters relating thereto.

Presenter:
Scott Shewey, Acting Chief Planning and Finance Officer, Colorado Springs Utilities
Aram Benyamin, Chief Executive Officer, Colorado Springs Utilities

Body
Summary:
The attached Ordinance addresses the issuance of the City of Colorado Springs, Colorado, Utilities System Refunding Revenue Bonds, Series 2020A ("2020A Bonds"), which will refund the City of Colorado Springs, Colorado, Refunding Revenue Bonds, Series 2009A ("2009A Bonds"), the City of Colorado Springs, Colorado, Refunding Revenue Bonds, Series 2010A-1 ("2010A-1 Bonds") and 2010A-2 ("Series 2010A-2 Bonds"), and the City of Colorado Springs, Colorado, Utilities System Improvement Revenue Bonds, Series 2010B-2 ("2010B-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 Colo...