DEPARTMENT: Finance
DEPARTMENT HEAD: Troy Elliott
COUNCIL DISTRICTS IMPACTED: City-wide
SUBJECT:
Approval of Refinancing of Certain IDA Bonds for Tindall Corporation
SUMMARY:
Consideration of the following in connection with the Refinancing of Certain Industrial Development Authority Bonds for the Tindall Corporation, a South Carolina Corporation:
Item to be considered by the Board of Directors of the City of San Antonio, Texas Industrial Development Authority:
This Resolution authorizes the issuance of $7,300,000 "City of San Antonio Industrial Development Authority Tax-Exempt Revenue Refunding Bonds (Tindall Corporation Refunding Project), Series 2015A", and $1,300,000 "City of San Antonio Industrial Development Authority Taxable Revenue Refunding Bonds (Tindall Corporation Refunding Project), Series 2015B" to refund certain outstanding bonds issued in 2008 to finance a manufacturing facility located in the City of San Antonio for the Tindall Corporation (a South Carolina Corporation); authorizes the execution of a Loan Agreement and an Indenture of Trust; authorizes the redemption of such outstanding bonds; and approves other matters in connection therewith.
Item to be considered by the City Council of San Antonio:
This Resolution approves the issuance of $7,300,000 "Tax-Exempt Revenue Refunding Bonds (Tindall Corporation Refunding Project), Series 2015A", and $1,300,000 "Taxable Revenue Refunding Bonds (Tindall Corporation Refunding Project), Series 2015B" by the City of San Antonio Industrial Development Authority for the Tindall Corporation, a South Carolina Corporation, and approves other matters related thereto.
BACKGROUND INFORMATION:
The Tindall Corporation designs, manufactures and erects precast, prestressed concrete products and building systems. Headquartered in Spartanburg, South Carolina, Tindall has manufacturing facilities in Virginia, South Carolina, Georgia, Mississippi and San Antonio, Texas. T...
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