Get the free Resolution Determining to Issue Taxable General Obligation Refunding Bonds

This document is a resolution adopted by the La Crosse County Board of Supervisors, authorizing the issuance of $4,600,000 in taxable general obligation refunding bonds. It outlines the details of

How to fill out resolution determining to issue

How to fill out Resolution Determining to Issue Taxable General Obligation Refunding Bonds

1. Begin by gathering all necessary financial documents and data related to the current bonds.
2. Identify the amount of debt that needs to be refunded and the terms of the existing bonds.
3. Consult with a financial advisor or legal counsel to understand the implications of issuing taxable general obligation refunding bonds.
4. Draft the resolution by including key information such as the purpose of the refunding, the amount to be issued, and the projected timelines.
5. Include a declaration of the necessity for the bonds and how the refunding will benefit the taxing district.
6. Ensure compliance with local and state laws regarding public finance and public announcements.
7. Present the drafted resolution to the governing body of the municipality for approval.
8. After receiving approval, finalize the document and prepare for any required public hearings or notifications.
9. Work with financial institutions to facilitate the issuance of the bonds once the resolution is approved.

Who needs Resolution Determining to Issue Taxable General Obligation Refunding Bonds?

1. Local government entities seeking to manage their debt more effectively.
2. Municipalities looking to reduce interest costs through the refinancing of existing bonds.
3. Public finance officials responsible for ensuring compliance with financing laws and regulations.
4. Investors and stakeholders interested in the financial health of the municipality.

People Also Ask about

What are general obligation refunding bonds?

Refunding bonds are bonds that are issued to replace and refinance outstanding general obligation or revenue bonds (chapter 39.53 RCW). The use of a refunding mechanism is often driven by the desire to lower interest rates and reduce payment amounts on older, more expensive debt.

Why would a corporation issue refund bonds?

If interest rates or yields have dropped since the bond's original issuance, the issuer would like to refinance, or refund, the bonds in a lower interest environment, thus reducing their future cash flow outlays and saving money.

Why do companies issue refund bonds?

If interest rates or yields have dropped since the bond's original issuance, the issuer would like to refinance, or refund, the bonds in a lower interest environment, thus reducing their future cash flow outlays and saving money.

What is the process of bond refunding?

Bond refunding is the process by which an organization retires existing bonds by issuing new bonds at a lower interest rate to reduce interest costs or extend the maturity of its debt.

What is the meaning of bond refunding?

Understanding Refunded Bond By definition, the term “refunding” means refinancing another debt obligation. It is not unheard of for municipalities to issue new bonds in order to raise funds to retire existing bonds. The bonds which are issued to refund older bonds are called refunding bonds or pre-refunding bonds.

Why would a bond issuer decide to issue an advance refunding bond?

Advance refundings are done either to reduce an issuer's debt service on outstanding bonds — the present value savings should be about 3%. Other refundings are done to remove restrictive bond covenants on outstanding or prior bonds such as rate charge covenants, additional bonds tests or mandatory expenditures.

Why would a corporation call back a bond?

Traditional call features generally work to the advantage of the issuer, not to the lender or investor. If interest rates fall, issuers would be more likely to "call in" a bond if they were able to refinance it with a new bond with a lower interest rate.

What are general obligation refunding bonds?

Refunding bonds are bonds that are issued to replace and refinance outstanding general obligation or revenue bonds (chapter 39.53 RCW). The use of a refunding mechanism is often driven by the desire to lower interest rates and reduce payment amounts on older, more expensive debt.

For pdfFiller’s FAQs

What is Resolution Determining to Issue Taxable General Obligation Refunding Bonds?

A Resolution Determining to Issue Taxable General Obligation Refunding Bonds is an official document passed by a governing body that authorizes the issuance of bonds aimed at refinancing existing debt. These bonds are taxable and are intended to lower interest costs or extend repayment terms.

Who is required to file Resolution Determining to Issue Taxable General Obligation Refunding Bonds?

Typically, a municipal government or local public agency is required to file the Resolution. This includes city councils, county boards, or school districts that are seeking to issue such bonds.

How to fill out Resolution Determining to Issue Taxable General Obligation Refunding Bonds?

To fill out the Resolution, one must include details such as the purpose of the bonds, the amount to be issued, the specific financial obligations being refunded, the interest rates, and any legal or procedural requirements set by state laws or local policies.

What is the purpose of Resolution Determining to Issue Taxable General Obligation Refunding Bonds?

The purpose is to formally express the intention to refinance existing debts, potentially achieving lower interest rates, improving cash flow, or altering the terms of debt repayment.

What information must be reported on Resolution Determining to Issue Taxable General Obligation Refunding Bonds?

The information required includes the name of the issuing entity, the purpose of the bond issue, the total principal amount, details of the existing debt being refunded, interest rates, maturity dates, and any relevant legal compliance information.