HomeMy WebLinkAboutPresentation - #33
City Council Meeting 2021March 16 of Bonds and Related AgreementsItem #33 Approve Resolution authorizing issuance
Timeline PROGRESS-IN 20212020 made in late March 2021 2. Selection of Underwriter will be 1. Financial Advisor developed an RFPUnderwriter Services–Issue RFP March Debt refinancing
the analysis recommending a Pension Staff and Financial Advisor completed :Develop Feasibility Analysis December-August 2. Adopt Policy Bond Counsel and Validation Services1. Direct
Staff to propose a contract for Policy:Refinancing Pension Debt & adopt City Council meeting Consider February(RFP)completion of a competitive process the City’s Financial Advisor after
City engaged Urban Futures, Inc. as Advisor:Approve contract for Financial –City Council Meeting July 2. Feasibility Analysis (“Policy”)Liability Cost Reduction Policy 1. Unfunded Employee
Pension documents:completed related Pension Staff and Financial Advisor January Refinancinganalysis to consider a Pension Debt Direct Staff to prepare a feasibility Update :Budget -City
Council meeting April Pension Debt Refinancing
Next Steps 20212021 Issue Debt Obligation November Safety Misc. & –22 UAL -Pay FY 2021-3. PreUnfunded Actuarial Liability (UAL)2. Impact of rate of return to the City’s ended 6/30/21-for
the fiscal year1. CalPERS investment rate of return Updated CalPERS Data:July 2. Credit Rating Presentation1. Finalize Bond documents Initiate Due Diligence Process October Superior
Courts documents with County of Orange File resolution and related bond Process Initiate Judicial Validation April issuance (50% or 90%) 3. Approve an “Up to” amount of Statement and
related documents2. Approve Preliminary Official 1. Completed Validation Process Underwriter(s):Bond Documents and Approve -City Council Meeting September-August contract)agreements
(trustee & bond purchase issuance of debt along with related Approve Resolution authorizing items:Process and approve related Request to Initiate Validation –City Council meeting March
Pension Debt Refinancing
4 THANK YOU !!