CITY AND BOROUGH OF SITKA - File #: ORD 20-30

• File #: ORD 20-30
• Version: 1
• 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

Date	Ver.	Action By	Action	Result
6/9/2020	1	City and Borough Assembly	PASSED ON SECOND READING	Pass
5/26/2020	1	City and Borough Assembly	PASSED ON FIRST READING	Pass

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