Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Capital Financing topic
No spam. Unsubscribe anytime.
Council ratifies bond sale and tax abatement for community pool project; bond terms summarized
Summary
Jason Murray presented the final bond schedule for the community pool project: a roughly $795,000 bond purchase with a net effective rate around 4.29% and term interest rates from about 3.55% to 4.125%; the council ratified the tax abatement and the bond sale (Resolutions 126 and 127).
The Olivia City Council ratified financing actions related to the Bold community pool project after Jason Murray presented final bond-sale details.
Jason Murray, joining the meeting virtually, summarized the bond purchase and schedule: a $795,000 bond purchase with a net effective rate reported as about 4.29%; term interest rates ranged from roughly 3.55% to 4.125% across multiple term bonds, and Murray said the average annual payment would be about $72,000 over 15 years. He also noted a local bank consortium participated as a purchaser on some term bonds.
The council voted to ratify a tax abatement (Resolution 126) and to approve the bond sale (Resolution 127). Resolution 126 was approved following a roll-call vote; Resolution 127 also passed on roll-call. Council members expressed no further questions after the presentation and thanked the presenter.
Staff will finalize documentation related to the bond sale and tax-abatement filings as part of the pool project procurement and construction schedule.
