• Embed Doc
  • Copy Link
  • Readcast
  • Collections
  • CommentGo Back
Download
 
TO:FROM:
DATE:
CITYCOUNCILMEMORANDUM
MayorandCityCouncilAlvinG.
cobger
April7,2009
SUBJECT:
MaritimeParkPresentationandBondResolutionTheMaritimeParkPresentation,whichwaspresentedattheApril6,2009CommitteeMeetings,andadraftcopyoftheBondResolutionareattachedforyourreview.
n
Cinro£1
rensacola
 
Community Maritime ParkCommunity Maritime ParkFinancingFinancingRecommendationRecommendation
April 6, 2009April 6, 2009
 
•Approvetheissuanceofa30yearfixedrateCapitalImprovementRevenueBondtoprovide$40millionnetproceedsfortheMaritimePark
project.
•PledgeTIFrevenueswhichwillpay
MaritimeParkdebt.
•CovenanttoBudget
&
AppropriateBack
ILIJP
pledgefromtineCit~.
RecommendationRecommendationLong Term FinancingLong Term Financing
Approve the issuance of a 30 yearApprove the issuance of a 30 yearfixed rate Capital Improvementfixed rate Capital ImprovementRevenue Bond to provide $40 millionRevenue Bond to provide $40 millionnet proceeds for the Maritime Parknet proceeds for the Maritime Parkproject.project.
PledgePledge--TIF revenues which will payTIF revenues which will payMaritime Park debt.Maritime Park debt.
Covenant to Budget & AppropriateCovenant to Budget & Appropriate--Back up pledge from the City.Back up pledge from the City.
of 00

Leave a Comment

You must be to leave a comment.
Submit
Characters: ...
You must be to leave a comment.
Submit
Characters: ...