Action Item Printout (PDF)
Original PDF as published on the Okaloosa County IQM2 meeting portal.
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Download ↓October 2, 2012
Okaloosa County BOCC — October 2, 2012 — Action Item Printout
Okaloosa County Board of County Commissioners action item printout for the October 2, 2012 meeting. Official document preserved from the county IQM2 public portal, with a searchable OCR text layer.
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Action Item Printout from the Okaloosa County BOCC meeting of October 2, 2012 (IQM2 meeting #1098). Original portal label: Action Item Printout. Preserved as a historical public record; part of the meeting linked as a related source.
- Original publication
- Action Item Printout
- Date
- October 2, 2012
- Reference collection
- Okaloosa County Board of County Commissioners (IQM2 public portal)
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Machine-extracted text — 38-Action Item Printout.pdf
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BOARD OF COUNTY COMMISSIONERS
AGENDA REQUEST
DATE: November 6, 2012
TO: Honorable Chairman and Members of the Board
FROM: Greg Donovan
SUBJECT: Approval of Resolution to Refinance Capital Projects Loan
DEPARTMENT: Airport
BCC DISTRICT: All
STATEMENT OF ISSUE: The BCC is requested to approve a resolution authorizing the
refinancing of an existing $2 million loan.
BACKGROUND: The Airport currently has a $2 million loan from the Florida Local
Government Finance Commission for the purpose of financing various capital projects at County
airports. There is an unspent balance of $875,742.51 from the previous loan which will be rolled
into the new loan. Use of these funds will provide necessary matches to FAA and FDOT grants
for new capital projects listed in Exhibit B. The refinancing is being done at this time because
the loan principal is due in December 2012 and finance conditions are extremely favorable. The
Airport intends to replace the loan with fixed rate bonds within the next year with BCC
concurrence in conjunction with a potential refunding of its Series 2003 Bonds. Attached to the
proposed BCC Resolution is a copy of the loan agreement which is for information only and
should not be signed. The Loan Agreement will be executed at the same time as the closing
documents a week or so before closing.
OPTIONS: Approve, Reject or Table
RECOMMENDATIONS: Approve and sign the Resolution and authorize the signature of the
Loan Agreement when required for the closing.
RECOMMENDED BY:
APPROVED BY:
James D. Curry, County Administrator
Related sources
Okaloosa County BOCC — October 2, 2012
This action item printout is part of the Okaloosa County BOCC meeting of October 2, 2012.