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(9)(e)
CITY COMMISSION REGULAR MTG
Meeting Date:
09/07/2022
Approving the issuance of Lago Mar Development Authority Tax Revenue Bonds
Submitted For:
Jon Branson
Submitted By:
Jon Branson, Management Services
Department:
Management Services
Information
ACTION REQUEST
Consider and take action on Resolution No. 2022-083 approving the issuance of Lago Mar Development Authority contract to issue Tax Revenue Bonds.
BACKGROUND (Brief Summary)
In order for the Lago Mar Development Authority to issue Bonds, the City Commission must authorize the sale of the Bonds. The Lago Mar Development Authority is seeking consent of the Commission to issue Tax Revenue Bonds, Series 2022, in a principal amount not to exceed $7,670,000 with the Bond proceeds to be used for infrastructure improvements for the development.
Drew Masterson, Managing Director of Masterson Advisors LLC will be in attendance and will provide a presentation regarding the proposed issuance.
RECOMMENDATION
Consider and take action regarding the Lago Mar Development Authority's request to issue Tax Revenue Bonds, Series 2022, in a principal amount not to exceed $7,670,000.
Fiscal Impact
Attachments
Finance Plan PowerPoint
Land Use Plan
Resolution
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