IN THE COUNTY LEGISLATURE OF JACKSON COUNTY, MISSOURI
Title
A RESOLUTION authorizing the County Executive to execute a Rate Lock Agreement, and Preliminary Term Sheet relating to the refunding of the County's Special Obligation Refunding Bonds (Truman Medical Center Projects), series 2012.
Intro
RESOLUTION NO. 20818, November 16, 2021
INTRODUCED BY Dan Tarwater III, County Legislator
Body
WHEREAS, Jackson County, Missouri (the "County"), operates pursuant to a County Charter and is a political subdivision of the State of Missouri, duly created, organized and existing under and by virtue of the Constitution and laws of the State of Missouri; and,
WHEREAS, the County previously issued the Special Obligation Refunding Bonds (Truman Medical Center Projects), Series 2012 (the "Series 2012 Bonds"), for the purpose of refinancing certain capital improvements for the benefit of Truman Medical Center - University Health; and,
WHEREAS, the County previously entered into an agreement with Stifel, Nicolaus & Company, Incorporated, Kansas City, Missouri, to serve as financial advisor (the "Financial Advisor") to the County along with co-financial advisor Moody Reid Financial; and,
WHEREAS, in connection with the contemplated refunding of the outstanding Series 2012 Bonds maturing on December 1, 2023, and thereafter (the "Refunded Bonds"), the County will enter into an agreement with Hilltop Securities, Inc., and Valdes & Moreno, as placement agents (the "Placement Agents"); and,
WHEREAS, the Financial Advisor and Placement Agents have solicited proposals for the sale of forward delivery special obligation bonds (the "Series 2021B Bonds") to refund the Refunded Bonds, which bonds will be authorized by Ordinance 5559, dated November 1, 2021, now pending before the Legislature; and,
WHEREAS, to secure a favorable interest rate and avoid potential fluctuations in the market, the Financial Advisor and Placement Agents have requested that the County execute an agreem...
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