November 09, 2010
Status:
Adopt Resolution No.11-54, Certificates of Participation, Series 2010B. Refunding of Certificates of Participation, Series 1997A&B and 2001A&B
Adopt Resolution No. 11-54. The School Board has an opportunity to refinance the remainder of the obligations under the series 1991A-1 lease and the series 1992A-1 lease by current refunding all of the outstanding series 1997A certificates and all of the outstanding 1997B certificates, and refinancing a portion of the obligations under the series 2001A-1 lease and the series 2001B-1 lease by current refunding a portion of the outstanding 2001A and 2001B certificates and authorizing execution of a certificate Purchase Contract; approving the negotiated sale of Certificates of Participation, Series 2010B in an aggregate principal amount not exceeding $300 million and approving the form of the documents in the exhibits section below.
The district will realize approximately $12 million in present value savings over the remaining life of the issue.
Requested Action
Adopt Resolution No.11-54 Certificates of Participation, Series 2010B. Refunding of Certificates of Participation, Series 1997A&B and 2001A&B.
Summary
Adopt Resolution No. 11-54. The School Board has an opportunity to refinance the remainder of the obligations under the series 1991A-1 lease and the series 1992A-1 lease by current refunding all of the outstanding series 1997A certificates and all of the outstanding 1997B certificates, and refinancing a portion of the obligations under the series 2001A-1 lease and the series 2001B-1 lease by current refunding a portion of the outstanding 2001A and 2001B certificates and authorizing execution of a certificate Purchase Contract; approving the negotiated sale of Certificates of Participation, Series 2010B in an aggregate principal amount not exceeding $300 million and approving the form of the documents in the exhibits section below.
School Board Goals
| Goal 4 - All stakeholders will work together to build a better school system. | ||
| Goal One: Student Achievement (2008-2011) |
Financial Impact
The District will realize approximately $12 million in present value savings over the remaining life of the issue.
Source of Additional Information
Henry Robinson 754-321-0581
Associated File Attachments
