Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Aurora to issue conduit bonds for Aurora University learning commons; council told city bears no repayment obligation
Summary
Council was asked to authorize up to $16 million in conduit revenue bonds to finance a 45,000‑square‑foot learning commons for Aurora University; staff and bond counsel said the arrangement is private‑activity conduit debt and the city assumes no repayment obligation.
Aurora officials presented an ordinance on July 15 authorizing the issuance and sale of adjustable‑rate demand economic development revenue bonds in an amount not to exceed $16 million to support a new learning commons at Aurora University. Chris Minnick, the city’s chief financial officer, said the transaction is conduit debt: the city functions as issuer but the repayment obligation rests solely with Aurora University and the bonds will not appear on the…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
