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Council authorizes distribution of preliminary offering memorandum for Forest Brook PID bonds
Summary
The Paris City Council adopted a resolution authorizing the distribution of a preliminary limited offering memorandum for the City of Paris Special Assessment Revenue Bonds, Series 2025, Forest Brook Public Improvement District No. 1, Improvement Area No. 1. The motion carried 6–0.
The Paris City Council voted Oct. 13 to adopt a resolution authorizing distribution of a preliminary limited offering memorandum for special assessment revenue bonds associated with the Forest Brook Public Improvement District, Improvement Area No. 1.
Staff described the resolution as a standard step that allows bond issuers to share offering disclosures with potential purchasers. Bond counsel provided model motion language to approve the distribution of the preliminary limited offering memorandum for the City of Paris Special Assessment Revenue Bonds, Series 2025, Forest Brook Public Improvement District No. 1, Improvement Area No. 1. Council approved the resolution by voice vote (motion carried, 6–0).
Council did not take additional actions or set bond terms during the meeting; staff said the memorandum contains the disclosures and details a prospective purchaser would consider before buying the bonds.
