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Board discusses changing bond issue to tax-exempt status in amended Resolution 16-66
Summary
Staff presented an amendment to Resolution 16-66 to convert a planned bond issuance to tax-exempt (non-taxable) status and to change underwriters; staff recommended approval and a motion was made and seconded, with a roll call requested (outcome not captured in the recorded segments).
Cindy told trustees the board needed to consider an amended Resolution 16-66 to change the planned financing structure for an authority bond issuance.
"This is amending the resolution for it to be a non tax, tax exempt bond issue versus a taxable and changing the underwriters to be okay," Cindy said, explaining the amendment aligns the EDA action with the prior city council approval and adjusts the financing instrument and underwriting team. Staff recommended approval of the amended resolution.
Trustees moved and seconded the motion and the chair called for a roll call; the recorded segments end after the motion and roll call was requested and do not include a final vote tally or chair announcement of the outcome in the captured portion of the transcript.
