HomeMy WebLinkAbout2018CV149 - SUTHERLAND V. CITY OF FORT COLLINS, STEVE MILLER & IRENE JOSEY - 088K - EXHIBIT KWade Troxell, President
Gerry Horak, District 6, Vice President
Bob Overbeck, District 1
Ray Martinez, District 2
Ken Summers, District 3
Kristin Stephens, District 4
Ross Cunniff, District 5
Carrie Daggett
City Attorney
City Council Chambers
City Hall West
300 LaPorte Avenue
Fort Collins, Colorado
Cablecast on FCN, Channel 14
and Channel 881 on the Comcast cable system
Darin Atteberry
Executive Director
Delynn Coldiron
Secretary
The City of Fort Collins will make reasonable accommodations for access to City services, programs, and activities and
will make special communication arrangements for persons with disabilities. Please call 221-6515 (V/TDD: Dial 711
for Relay Colorado) for assistance.
Electric Utility Enterprise Board Meeting
March 20, 2018
(after the Regular Council Meeting)
• CALL MEETING TO ORDER
Consideration and Approval of the Minutes of the January 2 and January 16 2018 Electric Utility
Enterprise Board Meetings.
The purpose of this item is to approve the minutes from the January 2 and January 16, 2018, Electric
Utility Enterprise Board meetings.
2. Items Relatinct to Electric Utility Enterprise Revenue Bonds, Series 2018. (staff: Travis Storin, Mike
Beckstead; 15 minute staff presentation; 30 minute discussion)
A. First Reading of Ordinance No. 003, Authorizing the Issuance and Sale of Its Tax-Exempt
Revenue Bonds, Series 2018A, and Its Taxable Revenue Bonds, Series 20186, Providing for the
Sources of Payment of the Bonds and Providing Other Details Concerning the Bonds and the
Enterprise's System.
B. First Reading of Ordinance No. 004, Authorizing the Defeasance of the Enterprises Taxable
Revenue Bonds (Direct Pay Qualified Energy Conservation Bonds), Series 20106.
The purpose of this item is to consider two ordinances related to the Electric Utility Enterprise's
issuance of revenue bonds for the City's proposed Broadband System. Ordinance No. 003, authorizes
the financing and construction of a Municipal Broadband System to provide telecommunication
facilities and services, including the transmission of voice, data, graphics, and/or video to customers
within Fort Collins. This agenda item is consistent with Strategic Objective 3.9 from the 2016 Strategic
Plan: Encourage the development of reliable, high speed Internet services throughout the community.
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DATE FILED: March 8, 2019 6:07 PM
FILING ID: 8864D66F6104C
CASE NUMBER: 2018CV149
Ordinance No. 004, authorizes the defeasance of the Electric Utility Enterprise's 20186 outstanding
bonds, for which remaining payments total $5,270,000 principal and $513,328 interest through
maturity in 2020. This defeasance is necessary to eliminate certain restrictive covenants in the 20106
bonds that would otherwise affect the Enterprise's ability to issue the 2018 bonds for the Broadband
System.
The aggregate principal amount of the Bonds being issued shall not exceed $150,000,000. The net
effective interest rate shall not exceed 5.45% on either the 2018A or 20186 Bonds. The 2018A Bonds
shall mature no later than December 1, 2042, and the 20188 Bonds shall mature no later than
December 1, 2032.
• OTHER BUSINESS
• ADJOURNMENT
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