DEPARTMENT: Finance
DEPARTMENT HEAD: Troy Elliott
COUNCIL DISTRICTS IMPACTED: City-Wide
SUBJECT:
Issuance, Sale, and Delivery of 2019 Obligations and Reimbursement Resolution.
SUMMARY:
A. This Ordinance authorizes the issuance of the City of San Antonio, Texas General Improvement and Refunding Bonds, Series 2019, in an aggregate principal amount not to exceed $437,000,000, and authorizes other matters incident and related thereto.
B. This Ordinance authorizes the issuance of the City of San Antonio, Texas Combination Tax and Revenue Certificates of Obligation, Series 2019, in an aggregate principal amount not to exceed $60,000,000, and authorizes other matters incident and related thereto.
C. This Ordinance authorizes the issuance of the City of San Antonio, Texas Tax Notes, Series 2019, in an aggregate principal amount not to exceed $40,000,000, and authorizes other matters incident and related thereto.
D. This Resolution by the City Council of the City of San Antonio, Texas establishes the City's intent to reimburse itself for the prior lawful expenditure of funds from the proceeds of one or more series of tax exempt or taxable obligations to be issued by the City for authorized purposes and as further designated by series and federal tax treatment; authorizes other matters incident and related thereto; and provides for an effective date.
BACKGROUND INFORMATION:
The FY 2019 Adopted Capital Budget includes the proposed sale of new money bonds to fund projects totaling $249,530,000 and refunding bonds of approximately $167,500,000 for a combined funding of approximately $417,030,000 (but not to exceed $437,000,000) in General Improvement and Refunding Bonds, Series 2019 (the "2019 Bonds"); approximately $43,740,000 (but not to exceed $60,000,000) in Combination Tax and Revenue Certificates of Obligation, Series 2019 ("the 2019 Certificates"); and approximately $37,000,000 (but not to exceed $40,000,000) in Tax Notes, Series 2019 ("the 2019 N...
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