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Posted: September 26, 2019
Rapid City
Agenda Item Summary

Agenda Item Ref. #: LF100219 11

Agenda Item Title:

Approve Resolution No. 2019-082 a Resolution Authorizing the Issuance and Sale of Airport Revenue Refunding Bonds, Series 2019A (PFC Supported)

Origination Group:
Legal & Finance Committee
Origination Meeting Date:
10/02/2019
City Council Hearing Date:
10/07/2019
Staff Contact:
Pauline Sumption, Finance Officer
Agenda Item Summary:
Resolution Authorizing the Issuance and Sale of Airport Revenue Refunding Bonds, Series 2019A (PFC Supported), to Refinance the Cost of Improvements to the Rapid City Regional Airport and Defining the Terms and Manner of Payment of the Bonds and the Security Therefor

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center
With the current reduced interest rates, refinancing the 2011A Bonds will save the Airport an estimated $3.4 million NPV over the life of the bonds.

Recommendations:

Origination Recommendation Action:
Approve

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