From time to time the Town issues debt to finance capital investments or to refinance existing outstanding debt. Prior to the issuance of debt the Town, in collaboration with the Local Government Commission, produces an “Official Statement” to facilitate sale of the debt instruments (bonds or Certificates of Participation (COPs)) and to provide detailed information to interested parties. The official statement acts as an offering document for the sale of debt and provides information about the bonds or COPs being offered for sale, the Town’s Finances and demographic information for the Town and the surrounding area.
Official Statements posted on this page are either “preliminary” or “final.” Preliminary statements are posted during the review process and are subject to change. Final statements have been approved for distribution in advance of the sale of the bonds or COPs.
Timeline of the 2012 Debt Issuance/Refunding Process
April 16, 2012:
- The Council approved a bond order authorizing the issuance of General Obligation refunding bonds in the maximum amount of $5.5 million to refund existing Town bonds.
- The Council adopted a resolution stating the intent to issue general obligation public improvement two-thirds bonds.
April 30, 2012:
- The Council called a public hearing on May 14 on the proposed issuance of $1.7 million of two-thirds bonds.
May 14, 2012:
The Council received public comment and supported the financing plan for the 140 West Franklin parking project and refunding of existing installment financing obligations.
The Council received public comment and supported the financing plan for the issuance of $1,700,000 of two-thirds bonds and $5,500,000 of refunding bonds.
June 4, 2012:
The Council adopted a resolution providing final approval of terms and documents for the Town's 2012 installment financing for parking improvements and to refinance existing obligations.