Laserfiche WebLink
Page 6 of 7 <br />terms of the Bonds, material information regarding the City’s water system and <br />related matters; it contains all relevant information for the investors to decide <br />whether to purchase the Bonds. <br /> <br />• Continuing Disclosure Certificate – Contained in the Preliminary Official <br />Statement is the form of Continuing Disclosure Certificate, which requires the <br />City to submit annual continuing disclosure reports and notice of certain listed <br />events to the marketplace as long as the Bonds are outstanding. <br /> <br />Financing Team Participants <br />The complex legal and financial structure of municipal debt requires issuing agencies to rely <br />heavily upon experienced professional consultants to assist with the process. City staff <br />assembled a team of professionals to assist the City in this transaction. All fees associated <br />with the financing will be paid by the Bonds. <br /> <br />Members of the 2024 Bond Financing Team and their Roles <br /> <br />Team Member Member Role <br />PFM Financial Advisor <br />Jones Hall Bond Counsel/Disclosure Counsel <br />Siebert Williams Shank Underwriter <br />U.S. Bank Trustee <br /> <br />Financial Advisor. Ensures that the issuing entity’s interests are protected when the <br />transaction is being structured and when interest rates are established on the Bonds. <br /> <br />Bond Counsel/Disclosure Counsel. Drafts the documents required to complete the sale of <br />bonds as well as ensures compliance with all of the legal requirements surrounding municipal <br />debt. <br /> <br />Underwriter. Securities dealer who helps government entities bring bond issues to market by <br />purchasing the bonds from the issuer and then reselling the bonds to investors. <br /> <br />Trustee: Financial institution with trust powers that is given fiduciary powers by a bond issuer <br />to enforce the terms of a bond indenture. <br /> <br />Financing Schedule <br />The following table presents the financing schedule: <br /> <br />Date Description of Activity <br /> <br />5/7/2024 City/Authority each adopts Resolution authorizing Bond Issuance <br /> <br />5/21/2024 Pricing - Bonds sold & interest rates established <br /> <br />6/04/2024 City receives Bond proceeds <br /> <br />EQUITY AND SUSTAINABILITY <br />Page 215 of 448Page 224 of 557