MDTA Board Resolution, Municipal Financing Page Two
The Executive Director and Chief Financial Officer (CFO) will have the authority to manage the bond sale and closing, including the award of the 2025 bonds to the successful underwriting firm(s) or negotiation of terms for a private placement. The resolution also provides for authority to select other service providers and to prepare and execute all closing documents, certificates, and bond forms. Resolution 25-01 contains the following limiting and reporting provisions: 1. Par Amount – Limited to $600 million. 2. Bond Sale Date – No later than December 31, 2025. 3. Bond Sale Reports on Results – Provided by the Executive Director and CFO at the first Board meetings after the sale dates. RECOMMENDATION Management requests the Finance Committee’s concurrence and recommendation to move to the full board for approval of the Municipal Financing Resolution. ATTACHMENTS Board Resolution 25-01, Municipal Financing
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