Title
Ordinance No. 21-47 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 2021A in an aggregate principal amount not to exceed $69,685,000, and the City of Colorado Springs, Colorado, Utilities System Improvement Revenue Bonds, Series 2021B in an aggregate principal amount not to exceed $250,000,000, 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, 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 2021A ("2021A Bonds"), which will refund the City of Colorado Springs, Colorado, Refunding Revenue Bonds, Series 2011A ("2011A 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 2021B ("2021B 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:
2021A Bonds: The 2011A Bonds are callable from current bondholders and it has been determined that the refunding of these ...
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