DEPARTMENT: Finance
DEPARTMENT HEAD: Troy Elliott
COUNCIL DISTRICTS IMPACTED: City Wide
SUBJECT: CPS Energy Financing Transactions
SUMMARY:
CPS Energy requests City Council approval of the following:
A. An Ordinance authorizing the a) issuance of the City of San Antonio, Texas Electric and Gas Systems Revenue Refunding Bonds, New Series 2015 ("Refunding Bonds"), in one or more series and in an aggregate principal amount not to exceed $370 million, and other financial matters as necessary to refund certain maturities of the City of San Antonio, Texas Electric and Gas Systems Revenue Refunding Bonds, New Series 2007 ("Refunded Obligations") for debt service savings and b) distribution of an Official Statement relating to the Refunding Bonds.
B. Approval of a Reimbursement Resolution for prior construction costs for the City's combined electric and gas systems (the "Systems") not to exceed $500 million.
C. Separate Ordinances, identified below, authorizing a combined amount of not to exceed $435 million in new money bonds (collectively, the "New Money Bonds") for capital improvements to the Systems:
1) an Ordinance authorizing the a) issuance of one or more series of City of San Antonio, Texas Electric and Gas Systems Revenue Bonds, New Series 2015 ("New Money Senior Lien Bonds"), and other financial matters as necessary and b) distribution of an Official Statement relating to the New Money Senior Lien Bonds.
2) an Ordinance authorizing the a) issuance of one or more series of City of San Antonio, Texas Electric and Gas Systems Variable Rate Junior Lien Revenue Bonds, Series 2015 ("New Money Junior Lien Bonds"), and other financial matters as necessary and b) distribution of an Offering Memorandum relating to the New Money Junior Lien Bonds.
The respective Ordinances authorizing issuance of the Refunding Bonds, New Money Senior Lien Bonds, and New Money Junior Lien Bonds, includes a delegation of authority by the San Antoni...
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