Explanation
BACKGROUND: This ordinance authorizes the issuance of unlimited tax general obligation bonds, in one or more series, in an amount not to exceed $682,395,000.00 for the purpose of providing funds to refund certain outstanding general obligation bonds of the City. Proceeds of the refunding bonds will be used to refund current outstanding general obligation bonds of the City.
FISCAL IMPACT: Refunding bonds in an amount not to exceed $682,395,000.00 will be issued. Future legislation will provide for the debt service associated with the bond issuance.
EMERGENCY: Emergency passage is requested to enable implementation of capital projects and take advantage of market conditions.
Title
To authorize the issuance of unlimited tax general obligation bonds, in one or more series, in an amount not to exceed $682,395,000.00 for the purpose of providing funds to refund certain outstanding general obligation bonds of the City; and to declare an emergency. ($682,395,000.00)
Body
See the attached file, incorporated herein by reference: City of Columbus - 2026 Bonds - UTGO Refunding - Bond Ordinance(110036435.1).pdf