Meeting Information
WEDNESDAY, MAY 2, 2012
4:00 p.m.
-Convene
REGULAR AGENDA
(1) a. A Resolution authorizing and providing for the sale, issuance and delivery of General Obligation Sales Tax Refunding Bonds, Series 2012-A And Taxable General Obligation Sales Tax Refunding Bonds, Series 2012-B, of Douglas County, Kansas for the purpose of providing funds to refund a portion of the issuer's outstanding General Obligation Sales Tax bonds; providing for the levy and collection of an annual tax for the purpose of paying the principal of and interest on said bonds as they become due; making certain covenants and agreements to provide for the payment and security thereof and authorizing certain other documents and actions connected therewith.
b. A Resolution authorizing and providing for the sale, issuance and delivery of General Obligation Refunding Bonds, Series 2012-C, and Taxable General Obligation Refunding Bonds, Series 2012-D, of Douglas County, Kansas, for the purpose of providing funds to refund a portion of the issuer's outstanding General Obligations Bonds; providing for the levy and collection of an annual tax for the purpose of paying the principal of and interest on said bonds as they become due; making certain covenants and agreements to provide for the payment and security thereof and authorizing certain other documents and actions connected therewith.
c. A Resolution providing for the adoption of Tax-Exempt Financing Compliance procedures relating to obligations issued and to be issued by Douglas County, Kansas.
(2) Adjourn
Gaughan called the regular meeting to order at 4:00 p.m. on Wednesday, April 25, 2012 with all members present.
BONDS/REFINANCING 05-02-12
The Board considered Resolution 12-13 authorizing and providing for the sale, issuance and delivery of General Obligation Sales Tax Refunding Bonds, Series 2012-A And Taxable General Obligation Sales Tax Refunding Bonds, Series 2012-B, of Douglas County, Kansas for the purpose of providing funds to refund a portion of the issuer's outstanding General Obligation Sales Tax bonds; providing for the levy and collection of an annual tax for the purpose of paying the principal of and interest on said bonds as they become due; making certain covenants and agreements to provide for the payment and security thereof and authorizing certain other documents and actions connected therewith; and
Resolution 12-14 authorizing and providing for the sale, issuance and delivery of General Obligation Refunding Bonds, Series 2012-C, and Taxable General Obligation Refunding Bonds, Series 2012-D, of Douglas County, Kansas, for the purpose of providing funds to refund a portion of the issuer's outstanding General Obligations Bonds; providing for the levy and collection of an annual tax for the purpose of paying the principal of and interest on said bonds as they become due; making certain covenants and agreements to provide for the payment and security thereof and authorizing certain other documents and actions connected therewith;
Greg Vahrenberg, Piper Jaffray & Co., reviewed the bond buyer index and municipal market data. J Norton, Gilmore and Bell, reviewed the bond series and the resolution.
After discussion, Flory moved to approve Resolution 12-13 and 12-14 as described above. Motion was seconded by Thellman and carried 3-0.
The Board considered the approval of Resolution 12-15 providing for the adoption of Tax-Exempt Financing Compliance procedures relating to obligations issued and to be issued by Douglas County, Kansas.
The IRS and Securities and Exchange Commission (SEC) regulations required a policy change and adoption of policy procedures including record retention, an annual review and continuing disclosures with the bond counsel.
After discussion, Flory moved to approve Resolution 12-15 as described above. Motion was seconded by Thellman and carried 3-0.
Flory moved to adjourn the meeting; Thellman seconded and the motion carried 3-0.
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Mike Gaughan, Chair Nancy Thellman, Vice-Chair
ATTEST:
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Jamie Shew, County Clerk Jim Flory, Member
Time and Date