Printed on Tuesday 10/13 - in a week where City Manager Chris Brady stated there would be no council meetings - here's the Final Agenda and some meeting details for Thursday's Study Session starting at 07:30 a.m.
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City typically issues each year in Spring
2020 issuances initially planned for Apr/May
Pandemic in Feb/Mar resulted in unfavorable market conditions
2020 issuances deferred to current timeframe (Nov/Dec)
2021 issuances still planned for Apr/May 2021
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City financing team:
Annually, City financing team:
Council Study Session Notice: To decrease COVID-19 exposure, the City Council Chambers is closed, but public viewing and input on the items are available electronically.
Members of the City Council will appear electronically for this meeting, via a video conferencing platform, and the live meeting will be accessible via broadcast and telephonically.
Because of the current public health emergency, the City Council Chambers is closed for Council study sessions.
However, the live meeting may be watched on local cable Mesa channel 11, online at Mesa11.com/live, www.youtube.com/user/cityofmesa11/live, or https://www.facebook.com/CityofMesa, or listened to by calling 888-788-0099 or 877-853-5247 (toll free) using meeting ID 5301232921 and following the prompts.
For any difficulties accessing this meeting, please call 480-644-2099.
Roll Call
1 Review and discuss items on the agenda for the October 19, 2020 regular Council meeting.
2 Presentations/Action Items:
20-1027 Hear a presentation and discuss the 2020 bond program including defeasance, new issuances, and refundings. 2-a
| File #: | 20-1027 |
| Type: | Presentation | Status: | Agenda Ready |
| In control: | City Council Study Session |
| On agenda: | 10/15/2020 |
| Title: | Hear a presentation and discuss the 2020 bond program including defeasance, new issuances, and refundings. |
| Attachments: | 1. Presentation |
20-1028 Hear a presentation, discuss, and provide direction on the City’s recycling program. 2-b
| File #: | 20-1028 |
| Type: | Presentation | Status: | Agenda Ready |
| In control: | City Council Study Session |
| On agenda: | 10/15/2020 |
| Title: | Hear a presentation, discuss, and provide direction on the City’s recycling program. |
| Attachments: | 1. Presentation |
3 Acknowledge receipt of minutes of various boards and committees:
> 20-1037 Audit, Finance and Enterprise Committee meeting held on September 10, 2020. 3-a
| File #: | 20-1037 |
| Type: | Minutes | Status: | Agenda Ready |
| In control: | City Council Study Session |
| On agenda: | 10/15/2020 |
| Title: | Audit, Finance and Enterprise Committee meeting held on September 10, 2020. |
| Attachments: | 1. September 10, 2020 Audit, Finance and Enterprise |
> 20-1025 Parks and Recreation Advisory Board meeting held on July 9, 2020.3-b
| File #: | 20-1025 |
| Type: | Minutes | Status: | Agenda Ready |
| In control: | City Council Study Session |
| On agenda: | 10/15/2020 |
| Title: | Parks and Recreation Advisory Board meeting held on July 9, 2020. |
| Attachments: | 1. July 9 Minutes Approved |
4 Current events summary including meetings and conferences attended.
5 Scheduling of meetings.
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CLOSER LOOK AT 2020 BOND PROGRAM 21 Power Point Slides
2020 Bond Program
October 15, 2020 Ryan Wimmer, Treasurer
2020 Bond Program Savings
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General Obligation Bonds Refunding Estimated*
Interest Savings: $5 million (present value)
Utility Systems Revenue Bonds Defeasance (impact fee cash used to pay $15M principal early -completed July)
Actual Interest Savings: $2 million (present value) Refunding Estimated*
Interest Savings: $10 million (present value)
TOTAL ESTIMATED* INTEREST SAVINGS: $5M + $2M + $10M = $17M (present value)
*Conservative estimate based on current interest rates. Actual savings will be based on market conditions when priced.
Estimated Timeline for 2020 Bond Transactions (may be adjusted due to market conditions)
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Oct 19 Council considers authorization of:
- General obligation bond issuance
- General obligation bond refunding
- Utility revenue bond issuance
- Utility revenue bond refunding
Nov 10-19 Issuances are priced
Dec 10 All issuances close and proceeds are received
Existing City Debt (as of 8/1/20)
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Debt Type Principal ($ millions)
Utility Systems Revenue Bonds $1,228
General Obligation Bonds 335
HURF (Street & Highway) Bonds 59
State Water Loans 1
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