Title
A Resolution Of The City Commission Of The City of Hollywood, Florida, Authorizing The Issuance Of Not To Exceed $50,000,000.00 Aggregate Principal Amount Of Capital Improvement Revenue And Refunding Bonds, Series 2016A; Awarding The Negotiated Sale Of Such Bonds And Authorizing The Execution And Delivery Of A Bond Purchase Agreement With Merrill Lynch, Pierce, Fenner & Smith Incorporated And The Other Underwriters Named Therein For Such Bonds; Fixing Or Providing For The Determination Of The Date, Denominations, Maturities, Interest Rates, Redemption Provisions, And Other Details With Respect To Such Bonds Within The Parameters Set Forth Herein; Authorizing The Refunding Of Certain Prior Obligations Of The City; Authorizing The Use And Approving The Form Of A Preliminary Official Statement And A Final Official Statement In Connection With The Distribution Of Such Bonds And Other Action In Connection With The Issuance And Delivery Of Such Bonds; Appointing An Escrow Agent And Authorizing The Execution And Delivery Of An Escrow Deposit Agreement; Designating A Paying Agent And Registrar For Such Bonds And A Verification Agent; Authorizing The Execution And Delivery Of A Continuing Disclosure Certificate; Adopting A Book-Entry System Of Registration For The Bonds; And Providing An Effective Date.
Body
Staff Recommends: Approval of the Resolution
Explanation:
The legal framework for the issuance of Capital Improvement Revenue Bonds was established through a previous Resolution of the City Commission. The specific terms of the Series 2016 Capital Improvement Revenue and Refunding Bonds are included in this proposed Supplemental Bond Resolution which serves as a companion agenda item to the previous Resolution.
The proposed Supplemental Bond Resolution authorizes the issuance of the Series 2016 Capital Improvement Revenue and Refunding Bonds in an amount not to exceed $60,00,000 to refinance several existing series of bonds and loans secured ...
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