Explanation
BACKGROUND: This ordinance authorizes the issuance of limited refunding bonds in an amount not to exceed $71,480,000.00. 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 $71,480,000.00 will be issued. Future legislation will provide for the debt service associated with the bond issuance.
EMERGENCY: Emergency passage is requested to take advantage of market conditions.
Title
To authorize the issuance of limited tax general obligation bonds, in one or more series, in an amount not to exceed $71,480,000.00 for the purpose of providing funds to refund certain outstanding general obligation bonds of the City; and to declare an emergency. ($71,480,000.00)
Section 44-1(b) of the City Charter.
Body
See attached file: City of Columbus - 2025 Bonds - LTGO Refunding - Bond Ordinance(25026073.1) (002).pdf