Public Hearing for Ordinance #2020-11: An Ordinance Approving the Borough's Participation in a Proposed Refinancing by the Alaska Municipal Bond Bank of its General Obligation Bonds, 2010 Series One (Issued in Two Series, One Tax-Exempt and One Taxable), which Provided Funds to Purchase the City of Petersburg General Obligation Electric Utility Bond, 2010 Series A (Tax-Exempt) (the "2010A Bond"), and the City of Petersburg General Obligation Electric Utility Bond, 2010 Series B (Taxable Build America Bond) (the "2010B Bond"), Under a Loan Agreement Between the City and the Bond Bank; Authorizing the Borough Manager and Finance Director to Enter into a New Loan Agreement with the Bond Bank Setting Forth a Revised Debt Service Schedule with Respect to the Loan Evidenced by the 2010A Bond and the 2010B Bond, In Accordance with the 2010 Loan Agreement, if the Bond Bank Successfully Refinances its 2010 Bonds; Authorizing the Issuance of a New Bond or Bonds to the Bond Bank to Evidence the Refinanced Loan; and Establishing an Effective Date

Committee

Borough Assembly

Introduced

April 15, 2020

On agenda

April 20, 2020

Passed

April 20, 2020