File #: RES. NO. 2013-25    Version: 1 Name: Refunding 2004 GO Bonds
Type: Resolution Status: Passed
File created: 10/25/2013 In control: City Council
On agenda: 12/10/2013 Final action: 12/10/2013
Title: Accepting a Proposal of TD Bank, N.A. to Provide the City with a Term Loan in Order to Refund All of the City's Outstanding Recreation Capital Improvement General Obligation Bonds, Series 2004 Which Were Issued to Finance the Acquisition, Construction And Equipping of Various Recreational Facilities; Approving the Form of a Loan Agreement; Approving the Form of An Escrow Deposit Agreement; Authorizing the Issuance of a City of Venice, Florida Recreation Capital Improvement General Obligation Refunding Bond, Series 2014 Pursuant to Such Loan Agreement in the Aggregate Principal Amount of Not to Exceed $6,600,000 in Order to Evidence Such Loan; Authorizing the Repayment of Such Bond From Ad Valorem Taxation Without Limit on All Taxable Property in the City; Delegating Certain Authority to the Mayor, City Manager and Other Officers of the City for the Authorization, Execution and Delivery of the Loan Agreement, the Escrow Deposit Agreement, the Bond and Various Other Documents With Respec...
Attachments: 1. Resolution, 2. Exhibit A - Proposal of TD Bank, 3. Exhibit B - Form of Loan Agreement, 4. Exhibit C - Form of Escrow Deposit Agreement, 5. Exhibit D - Financial Plan, 6. TD Bank Summary.pdf
...Title
Accepting a Proposal of TD Bank, N.A. to Provide the City with a Term Loan in Order to Refund All of the City's Outstanding Recreation Capital Improvement General Obligation Bonds, Series 2004 Which Were Issued to Finance the Acquisition, Construction And Equipping of Various Recreational Facilities; Approving the Form of a Loan Agreement; Approving the Form of An Escrow Deposit Agreement; Authorizing the Issuance of a City of Venice, Florida Recreation Capital Improvement General Obligation Refunding Bond, Series 2014 Pursuant to Such Loan Agreement in the Aggregate Principal Amount of Not to Exceed $6,600,000 in Order to Evidence Such Loan; Authorizing the Repayment of Such Bond From Ad Valorem Taxation Without Limit on All Taxable Property in the City; Delegating Certain Authority to the Mayor, City Manager and Other Officers of the City for the Authorization, Execution and Delivery of the Loan Agreement, the Escrow Deposit Agreement, the Bond and Various Other Documents With Respect Thereto