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______________________________________________________________________________ <br /> <br />Page 1 of 1 <br /> <br /> <br /> <br /> <br /> <br />UTILITIES COMMISSION MEETING <br /> <br />TO: <br />ERMU Commission <br />FROM: <br />Melissa Karpinski – Finance Manager <br />MEETING DATE: <br />May 11, 2021 <br />AGENDA ITEM NUMBER: <br />5.1 <br />SUBJECT: <br />Award of General Obligation Water Utility Revenue Bonds, Series 2021C <br />ACTION REQUESTED: <br />Adopt the Bid Tabulation and Resolution Awarding the Issuance and Sale of $1,750,000 General <br />Obligation Water Utility Revenue Bonds, Series 2021C. <br /> <br />BACKGROUND: <br />At the April 13 meeting, the Commission passed a resolution to proceed with issuance of <br />$1,750,000 2021C bonds, and the City Council passed it at their April 19 meeting. At that time, <br />it was identified that the award of the bonds by the Utilities Commission would come back and <br />be on the May 11 agenda. <br /> <br />DISCUSSION: <br />S&P affirmed the city’s General Obligation AA+ stable rating and issued a rating report. <br />Proposals for the sale were received until 10:30 a.m. CST on May 11. <br /> <br />The issuance and awarding of the 2021C General Obligation Water Utility Revenue Bonds <br />template resolution is attached for review. Terri Heaton from Baker Tilly will be attending our <br />Commission meeting to present the May 11 market sale information results. <br /> <br />FINANCIAL IMPACT: <br />Bond payments will include interest and be due February 1 and August 1 of 2022 until 2041. <br /> <br />ATTACHMENTS: <br />• Preliminary Official Statement Dated April 30, 2021 <br />• Template Resolution No. 21-12 Awarding the Issuance and Sale of $1,750,000 General <br />Obligation Water Utility Revenue Bonds, Series 2021C <br /> <br /> <br />100