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File #: ORD 20-30    Version: 1 Name:
Type: Ordinance Status: PASSED
File created: 5/20/2020 In control: City and Borough Assembly
On agenda: 6/9/2020 Final action: 6/9/2020
Title: Authorizing the City to obtain a loan from the Alaska Municipal Bond Bank in a principal amount not to exceed $7,000,000 to refinance for savings the City’s outstanding loan from the Alaska Energy Authority; authorizing the issuance to the Bond Bank of a junior lien electric revenue refunding bond of the City to evidence and secure the loan; authorizing the Municipal Administrator and Chief Finance and Administrative Officer to enter into a loan agreement with the Bond Bank setting forth the terms and conditions of the loan and the refunding bond; and establishing an effective date
Attachments: 1. Motion Ord 2020-30, 2. Memo Ord 2020-30, 3. Ord 2020-30, 4. 2020-30

title

Authorizing the City to obtain a loan from the Alaska Municipal Bond Bank in a principal amount not to exceed $7,000,000 to refinance for savings the City’s outstanding loan from the Alaska Energy Authority; authorizing the issuance to the Bond Bank of a junior lien electric revenue refunding bond of the City to evidence and secure the loan; authorizing the Municipal Administrator and Chief Finance and Administrative Officer to enter into a loan agreement with the Bond Bank setting forth the terms and conditions of the loan and the refunding bond; and establishing an effective date