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Tall City PFA adopts Resolution 26-02 to advance up to $7 million in bonds
Summary
At a special meeting, the Tall City PUD and Public Financing Authority adopted Resolution 26-02 to approve final documents needed to sell up to $7,000,000 in bonds; staff said a rating presentation is scheduled next week and the sale is targeted for May.
The Tall City PUD and the Public Financing Authority on Friday adopted Resolution 26-02, approving the final documents needed to move forward with a bond sale authorizing up to $7,000,000 in bonds.
Ryan Piedlak, controller and treasurer for the authority, told the board the item is a continuation of a prior authorization (Resolution 26-01) and that the current measure "will approve the final 2 documents required which are the preliminary official statement and the bond purchasing agreement." He introduced members of the finance team present to answer questions: Ken Deaker of Del Rio, Nikki Talman of Oppenheimer and Jonathan Goodes of Stratham Law.
Ken Deaker said the team has a rating presentation scheduled for next week and described current conditions as "a bit of a turbulent market." He added, "We are scheduled right now to to sell the bonds in May," and said staff will monitor market conditions in the weeks ahead.
No members of the public spoke on the item. A motion to adopt Resolution 26-02 was made and seconded on the record; the chair announced the motion carried. The transcript does not provide a roll-call tally or identify the mover and seconder by name beyond the speakers' labels in the transcript.
Next steps noted in the meeting record are the forthcoming rating presentation and proceeding toward the planned May sale of the bonds. The special meeting was then adjourned.
