AUTHORIZING THE ISSUANCE AND SALE OF PIC MUNICIPAL FACILITIES REVENUE REFUNDING BONDS, SERIES 2016A AND SERIES 2016B RECOMMENDATION: ADOPT RESOLUTION NO. 16-1745 APPROVING THE AMENDMENTS TO THE LEASE-PURCHASE AGREEMENTS AND TRUST INDENTURES PERTAINING TO THE CITY OF GOODYEAR, ARIZONA PUBLIC IMPROVEMENT CORPORATION (THE “CORPORATION”) SERIES 2007 BONDS AND SERIES 2008 BONDS; AUTHORIZING THE ISSUANCE OF THE CORPORATION’S MUNICIPAL FACILITIES REVENUE REFUNDING BONDS, SERIES 2016A FOR THE PURPOSE OF REFUNDING A PORTION OF THE SERIES 2007 BONDS AND SERIES 2016B BONDS FOR THE PURPOSE OF REFUNDING A PORTION OF THE SERIES 2008 BONDS; AUTHORIZING THE TAKING OF ALL OTHER ACTIONS NECESSARY TO THE CONSUMMATION OF THE TRANSACTIONS CONTEMPLATED BY THIS RESOLUTION; AND DELEGATING CERTAIN DUTIES. PURPOSE: This request is to authorize the issuance and sale of city of Goodyear, Arizona Public Improvement Corporation Municipal Facilities Revenue Refunding Bonds, Series 2016A in the aggregate principal amount of not to exceed $46,000,000, and Series 2016B in the aggregate principal amount of not to exceed $35,000,000. The Series 2016A Bonds and Series 2016B Bonds will have a yield not exceeding 5.00% per annum. (Larry Lange, Finance Director)

Committee

City Council Regular Meeting

Introduced

March 23, 2016

On agenda

March 28, 2016