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Brentwood City Commission Agenda

Meeting Date:	09/23/2019
Presentation of Report on Recent Debt Funding Obligation (State Form CT-0253)
Submitted by:	Holly Earls, Administration
Department:	Administration

Information

Subject

Presentation of Report on Recent Debt Funding Obligation (State Form CT-0253)

Background

The City just completed a successful $14,445,000 G.O. Bond issuance. Eight bids were received for the bond issue which will provide funding for the Police Headquarters building project. The lowest and best bid was submitted by FTN Financial Capital Markets with a true interest cost of 2.3186078%.

As a follow-up to the closing, the City is required to complete and submit to the State of Tennessee the attached "Report on Debt Obligations" (State Form No. CT-0253). State law requires that the form be presented to the City Commission at a public meeting prior to submission to the State. Note that all of the report information has been previously covered with the Board.

If you have any questions regarding the attached form, please contact the Finance Director.

Staff Recommendation

N/A - No formal action by the City Commission is required. This report is for informational purposes only as required by the Tennessee Comptroller.

Previous Commission Action

Resolution 2019-79 and Resolution 2019-80, authorizing the issuance of not to exceed $15,000,000 in general obligation public improvement bonds, was approved by the City Commission on August 12, 2019.

Fiscal Impact

Amount :
Source of Funds:
Account Number:

Fiscal Impact:

N/A - This is a regulatory filing report

Attachments
CT-0253