Explanation
This ordinance authorizes the issuance of limited tax notes in the amount of not to exceed $22,805,000, to refund outstanding bond anticipation notes issued for the purpose of financing the costs of the transportation projects and the Preserve District project improvements. ($22,805,000). These notes will be placed with RBC Capital Markets on a negotiated basis.
Title
To authorize the issuance of limited tax notes in the amount of not to exceed $22,805,000.00, to refund outstanding bond anticipation notes issued for the purpose of financing the costs of the transportation projects and the Preserve District project improvements. ($22,805,000.00). Section 55(b) of the City Charter.
Body
WHEREAS, pursuant to Ordinance No. 1688-2011 and Ordinance No. 1689-2011, duly adopted by the City Council (the "Council") for the City of Columbus, Ohio (the "Municipality" or the "City") on October 24, 2011, notes in the principal amount of $24,850,000 (the "Outstanding Notes"), dated December 1, 2011, were issued in anticipation of the issuance of bonds for the following purposes: (i) widening, opening, extending, constructing, paving, repaving, improving and changing the line of expressways, freeways, roads, highways, bikeways, streets, alleys, bridges, viaducts, overpasses, underpasses, grade crossing eliminations, service and access roads, and sidewalks, including development of off-street parking facilities, the acquisition and installation of parking meters, traffic control systems, equipment and signs and related appurtenances thereto, the acquisition of real estate and interests in real estate and related equipment, and landscaping and making site improvements; and (ii) widening Thompson Road east of Hamilton Road to the bridge over Rocky Fork Creek and bridge replacement; widening Morse Road from Hamilton Road to the U.S. 62/Morse Road Roundabout, including roundabout enhancements; and all other infrastructure improvements and appurtenances thereto, ...
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