Request for Proposal: Capital improvement refunding revenue note, series 2014 The purpose of this Request for Proposal (RFP) is to identify the institution that can provide the City of New Smyrna Beach, Florida (the City ) with a Non-Bank Qualified loan with a not to exceed amount of $5,900,000 at the lowest overall borrowing cost, pursuant to certain conditions. The proceeds of the loan will be used to refund the City s outstanding Capital Improvement Refunding Revenue Bonds, Series 2005 currently outstanding in the amount of $5,735,000. The Note will be secured by a covenant to annually budget and appropriate non ad valorem revenues of the City sufficient to pay the principal and interest on the loan. The City also has an outstanding Capital Improvement Revenue Note, Series 2013 currently outstanding in amount of $8,045,000 with a CB&A pledge. The City shall accept and review proposals from qualified financing institutions for a Non-Bank Qualified (Tax-Exempt) Fixed Rate bank loan based upon the proposed financing structure below. The City will select a financing that provides the lowest overall borrowing cost to the City and meets the financing requirements of the City. FirstSouthwest, Orlando, Florida, as the City s Financial Advisor, will assist with reviewing a fixed rate bank loan with the selected financial institution.
Major organization : CITY OF NEW SMYRNA BEACH
Address : 210 Sams Avenue, New Smyrna Beach, Fl. 32168 Attn: Pat Drosten Purchasing Agent
Country :United States
Tender notice number : RFP-14-14-FN-0-2014/pd
Notice type : Tender Notice
Open date : 2014-08-18
Tender documents : T23282946.html