Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Authorizing The Issuance Of The City's Water And Sewer Refunding Revenue Bonds, Series 2020, In An Aggregate Principal Amount Not To Exceed $40,000,000.00; Providing For The Determination Of Certain Details Of Such Bonds Within Parameters Set Forth Herein; Appointing A Paying Agent And Bond Registrar With Respect Thereto; Authorizing The Negotiated Sale Of Such Bonds To The Underwriters Mentioned Herein; Authorizing The Execution And Delivery Of A Bond Purchase Agreement With Respect To Such Bonds; Determining That The Issuance Of Such Bonds And The Refunding Of Certain Prior Bonds Are In The Best Interests Of The City And The Users Of The Utility; Approving The Form And Authorizing The Distribution Of A Preliminary Official Statement; Approving The Form And Authorizing The Execution And Delivery Of A Final Official Statement; Appointing An Escrow Agent And Authorizing The Execution Of An Escrow Deposit Agreement; Authorizing The Execution And Delivery Of A Disclosure Dissemination Agent Agreement And Appointing A Disclosure Dissemination Agent; Authorizing The Procurement Of Credit Enhancement To Further Secure Such Bonds; Providing For The Application Of Bond Proceeds; Approving The Redemption Of Such Certain Prior Bonds Of The City From Proceeds Of Such Bonds; Approving The Application Of Certain Moneys Held In Respect Of Such Certain Prior Bonds To Effect Such Redemption; Authorizing Proper Officials And Employees To Do All Things Deemed Necessary In Connection With The Issuance, Sale And Delivery Of Such Bonds; Providing For Severability.
Strategic Plan Focus
Financial Management & Administration
Body
Staff Recommends: Approval of the Resolution.
Explanation:
The City issued Water and Sewer Improvement Revenue Bonds, Series 2010B (Build America Bonds - Direct Payment) pursuant to Resolution R-2010-013, as adopted January 6, 2010 in the amount of $48,160,000.00. The Direct...
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