Tuesday, May 2, 2017

57.5% of bond money to be issued

Under the Consent Agenda, the "City plans to issue and not to exceed $23 million in General Obligation bonds and is appointing the registrar and paying agent for the bonds-- U.S. Bank National Association, Jacksonville, Florida. The Mayor and the City Clerk are authorized to enter into any agreement which may be necessary to effect the transactions contemplated by this Section 7. Bonds will be issued in denominations of $5,000.

The City Manager is delegated the authority to award the Bonds to the responsive bidder offering to purchase the Bonds at the lowest true interest cost to the City, which in no event shall exceed five percent (5%) true interest cost, calculated as provided in the Official Notice of Bond Sale, and with a final maturity date of no later than July 1, 2047."

I always wonder why there is never discussion on items such as this--how they chose this bank, what the bank will make, this particular amount, where it will be used, etc. Was the FAB board or the newly formed Bond Committee involved even to the point of knowing it was going to be on the Consent Agenda?

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5 comments:

  1. AnonymousMay 2, 2017 at 10:27 AM

    As a member of the newly formed (and I guess still forming) bond board, I can say a big NO to your questions, Lynn.I found out about this 23 million dollar CONSENT AGENDA ITEM when I looked up the Commission meeting agenda on line. Katie Mcgiveron

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  2. AnonymousMay 2, 2017 at 3:14 PM

    blah blah blah blah. complaining is like oxygen to you twits. try some exercise you may feel better.

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  3. AnonymousMay 2, 2017 at 3:31 PM

    Try shutting your mouth 3:14--we ALL would feel better.

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  4. AnonymousMay 2, 2017 at 5:33 PM

    3.14 sounds like a sheep being led around by their blah blah maybe they are a goat

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  5. AnonymousMay 3, 2017 at 12:13 AM

    If they are a goat I suggest they stay away from Amoroso

    ReplyDelete