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HomeMy WebLinkAbout2018CV149 - SUTHERLAND V. CITY OF FORT COLLINS, STEVE MILLER & IRENE JOSEY - 088Q - EXHIBIT QWade 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 FCTV, 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 April 3, 2018 (after the Regular Council Meeting) • CALL MEETING TO ORDER 1. Consideration and Approval of the Minutes From the March 20, 2018 Electric Utility Enterprise Board Meeting. The purpose of this item is to approve the minutes from the March 20, 2018 Electric Utility Enterprise Board meeting. 2. Items Relating to Electric Utility Enterprise Revenue Bonds, Series 2018. (staff: Travis Storin, Mike Beckstead; no staff presentation; 5 minute discussion) A. Second Reading of Ordinance No. 003, Authorizing the Issuance and Sale of Its Tax-Exempt Revenue Bonds, Series 2018A, and Its Taxable Revenue Bonds, Series 2018B, Providing for the Sources of Payment of the Bonds and Providing Other Details Concerning the Bonds and the Enterprise's System. B. Second Reading of Ordinance No. 004, Authorizing the Defeasance of the Enterprises Taxable Revenue Bonds (Direct Pay Qualified Energy Conservation Bonds), Series 201 OB. These Ordinances, unanimously adopted on First Reading on March 20, 2018, relate 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. Ordinance No. 004, authorizes the defeasance of the Electric Utility Enterprise's 2018B outstanding bonds, for which remaining payments total $5,270,000 principal and $513,328 interest through maturit in 2020. This defeasance is necessa to eliminate certain restrictive covenants in the 201 OB j City of Fort Collins Page 1 E"9 xAi bi-1- Q DATE FILED: March 8, 2019 6:07 PM FILING ID: 8864D66F6104C CASE NUMBER: 2018CV149 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 2018B Bonds. The 2018A Bonds shall mature no later than December 1, 2042, and the 2018B Bonds shall mature no later than December 1, 2032. • OTHER BUSINESS • ADJOURNMENT City of Fort Collins Page 2 I • I