A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF DANIA BEACH, FLORIDA, AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $2,900,000 IN AGGREGATE PRINCIPAL AMOUNT OF CITY OF DANIA BEACH, FLORIDA GENERAL OBLIGATION REFUNDING BONDS, SERIES 2016, TO REFUND OUTSTANDING BONDS OF THE CITY DESCRIBED HEREIN AND PAY COSTS OF ISSUANCE; APPROVING BRANCH BANKING AND TRUST COMPANY AS THE MOST RESPONSIVE AND RESPONSIBLE RESPONDER TO THE CITY'S REQUEST FOR PROPOSALS FOR REFUNDING THE OUTSTANDING BONDS; AUTHORIZING THE NEGOTIATED SALE OF THE BONDS TO BRANCH BANKING AND TRUST COMPANY; APPROVING THE FORM AND EXECUTION OF A LOAN AGREEMENT; AUTHORIZING THE CITY MANAGER AND OTHER OFFICERS TO TAKE ALL NECESSARY STEPS TO PREPARE AND EXECUTE FINAL BOND AND LOAN DOCUMENTS; DESIGNATING THE BONDS TO BE A "QUALIFIED TAX-EXEMPT OBLIGATION" WITHIN THE MEANING OF SECTION 265(B) OF THE INTERNAL REVENUE CODE; PROVIDING FOR CONFLICTS; FURTHER, PROVIDING FOR AN EFFECTIVE DATE.
CITY OF DANIA BEACH
Agenda Request Item
Type of Request: Adopt Resolution/Award Bid
(Adopt Resolution, Adopt Ordinance (1st Reading) Adopt Ordinance (2nd Reading)
Award Bid /RFP, Presentation, Public Hearing)
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Requested Action (Identify appropriate Action or Motion) |
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Adopt Resolution to Award Bid to BB&T to refinance 2010 GO Bond. |
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Description of Action |
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Adopt Resolution to Award Bid to BB&T to refinance 2010 GO Bond. |
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Purchasing Requests ONLY |
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Fund: (Select from: General, Water, Sewer, Stormwater, Grants, Capital) |
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Fiscal Impact/Cost Summary |
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Estimated present value savings by refinancing this GO Bond is approximately $346,000.00 |
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Exhibits Attached |
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Bond Resolution Draft Loan Agreement Bid Tabulation City – Memo Recommending Award BB & T Dunlap & Associates – Recommendation Letter to Award BB & T Refunding Summary Draft Escrow Agreement
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