November 29, 2016 Special City Council
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Item 1 - PENSACOLA ENERGY FINANCING - SERIES 2016 NOTE
Recommendation:
That City Council approve the attached resolution authorizing a financing not to exceed $15 million to finance the acquisition and construction of certain capital improvements to the gas system and authorize the Mayor to take all actions necessary to execute the transaction. Further, provisions of the Series 2016 Note, described in the resolution, will conform to the final terms negotiated with the lender, subject to the parameters described in the resolution and upon favorable recommendation of the City's Bond Counsel, City's Chief Financial Officer, City's Financial Advisor and the City Attorney. Also, that City Council approve the supplemental budget resolution appropriating issuance and project cost.
RESOLUTION NO. 48-16
A RESOLUTION AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $15,000,000 CITY OF PENSACOLA, FLORIDA GAS SYSTEM REVENUE NOTE, SERIES 2016, TO FINANCE AND/OR REIMBURSE THE COST OF THE DESIGN, PERMITTING, ACQUISITION, CONSTRUCTION, REHABILITATING AND EQUD7PING OF CERTAIN CAPITAL IMPROVEMENTS TO THE SYSTEM, PROVIDING FOR THE PAYMENT OF SUCH NOTE FROM THE PLEDGED REVENUES ON PARITY WITH CERTAIN OBLIGATIONS HERETOFORE ISSUED BY THE CITY; PROVIDING FOR THE SALE AND APPROVAL OF THE FORM OF SUCH NOTE; APPOINTING A PAYING AGENT AND BOND REGISTRAR FOR THE SERIES 2016 NOTE; MAKING OTHER COVENANTS AND AGREEMENTS IN CONNECTION THEREWITH; PROVIDING CERTAIN OTHER MATTERS IN CONNECTION THEREWITH; AND PROVIDING AN EFFECTIVE DATE.
Item 1
PENSACOLA ENERGY FINANCING - SERIES 2016 NOTERecommendation:
That City Council approve the attached resolution authorizing a financing not to exceed $15 million to finance the acquisition and construction of certain capital improvements to the gas system and authorize the Mayor to take all actions necessary to execute the transaction. Further, provisions of the Series 2016 Note, described in the resolution, will conform to the final terms negotiated with the lender, subject to the parameters described in the resolution and upon favorable recommendation of the City's Bond Counsel, City's Chief Financial Officer, City's Financial Advisor and the City Attorney. Also, that City Council approve the supplemental budget resolution appropriating issuance and project cost.
RESOLUTION NO. 48-16
A RESOLUTION AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $15,000,000 CITY OF PENSACOLA, FLORIDA GAS SYSTEM REVENUE NOTE, SERIES 2016, TO FINANCE AND/OR REIMBURSE THE COST OF THE DESIGN, PERMITTING, ACQUISITION, CONSTRUCTION, REHABILITATING AND EQUD7PING OF CERTAIN CAPITAL IMPROVEMENTS TO THE SYSTEM, PROVIDING FOR THE PAYMENT OF SUCH NOTE FROM THE PLEDGED REVENUES ON PARITY WITH CERTAIN OBLIGATIONS HERETOFORE ISSUED BY THE CITY; PROVIDING FOR THE SALE AND APPROVAL OF THE FORM OF SUCH NOTE; APPOINTING A PAYING AGENT AND BOND REGISTRAR FOR THE SERIES 2016 NOTE; MAKING OTHER COVENANTS AND AGREEMENTS IN CONNECTION THEREWITH; PROVIDING CERTAIN OTHER MATTERS IN CONNECTION THEREWITH; AND PROVIDING AN EFFECTIVE DATE.
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Supplemental Budget Resolution NO. 49-16 - SUPPLEMENTAL BUDGET RESOLUTION NO. 49-16
A RESOLUTION AUTHORIZING AND MAKING REVISIONS AND APPROPRIATIONS FOR THE FISCAL YEAR ENDING SEPTEMBER 30, 2017; PROVIDING FOR AN EFFECTIVE DATE.
Supplemental Budget Resolution NO. 49-16
SUPPLEMENTAL BUDGET RESOLUTION NO. 49-16A RESOLUTION AUTHORIZING AND MAKING REVISIONS AND APPROPRIATIONS FOR THE FISCAL YEAR ENDING SEPTEMBER 30, 2017; PROVIDING FOR AN EFFECTIVE DATE.