My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
05-08-23-R
ArdenHills
>
Administration
>
City Council
>
City Council Packets
>
2020-2029
>
2023
>
05-08-23-R
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
5/5/2023 3:13:27 PM
Creation date
5/5/2023 3:10:59 PM
Metadata
Fields
Template:
General
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
115
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
CONSENT ITEM — 7B <br />,--ARZEN HILLS <br />MEMORANDUM <br />DATE: May 8, 2023 <br />TO: Honorable Mayor and City Councilmembers <br />Dave Perrault, City Administrator <br />FROM: Gayle Bauman, Finance Director <br />SUBJECT: Amendments to Conduit Revenue Notes Series 2011A, 2012A and 2015 <br />Budgeted Amount: Actual Amount: Funding Source: <br />N/A N/A N/A <br />Council Should Consider <br />Motion(s) to approve, table or deny the following: <br />• Resolution 2023-022 relating to the approval of an amendment to the City's Series 2015 <br />Note, Series 2011A Note and Series 2012A Note, issued for the benefit of Presbyterian <br />Homes of Arden Hills, Inc. <br />Discussion <br />The City previously issued certain conduit revenue obligations which need to be modified due to <br />the phase out of LIBOR (used in determining the interest rate). Our Bond Counsel has determined <br />that the Amendments will not be considered a significant modification of the Notes and will not <br />result in a reissuance. Please see the attached letter from Kennedy & Graven for more details. <br />Budget impact <br />None. <br />Attachments <br />A. Kennedy & Graven letter <br />B. Notice of interest rate change <br />C. Resolution 2023-022 approving amendments to the Notes <br />D. Allonge to 2011A Note <br />E. Allonge to 2012A Note <br />F. Allonge to 2015 Note <br />Page I of I <br />
The URL can be used to link to this page
Your browser does not support the video tag.