Meeting Transcript

Mais Good afternoon. I would like to now call the City of South Walton Public Facility Authority meeting to order. Clerk, can you please sound the roll? Yes, ma'am. This is the roll call for the Public Facilities Authority. Let me see if everyone's in. Vote is over. That motion was approved unanimously 5-0. All right. Thank you. And can you sound the next item, please? Yes, the next item. It's letter A, a bond resolution of the City of South Fulton Public Facilities Authority authorizing the issuance of revenue bond public safety facilities project. Series 2025 in the original principal amount of 96,285,000 and to establish funds and accounts for the depositor proceeds of the bond approved in a government agreement and for other related purposes. Good afternoon, PFA. I'd like to read and memo that I wrote to you last week along with the bond documents. The city is moving forward with recommending the next best bid and is fortunate to have Truist as a valuable partner, the public facilities authority. And the city council will have the opportunity to review the bond resolution and intergovernmental agreement today. And to securing an outcome that supports the long-term financial operations and interests of the city of South Fulton. Our bond attorney Doug Selby is here, and our financial advisor Doug Wall is also here, and I can turn it over to them to answer any further questions. Every year during those first five years, you can pay up to 10% per year of the outstanding principal balance with no prepayment penalty. So that was a great new addition that we got. Same 20-year maturity. Clerk, do we have any um members and the new speakers? No ma'am. All right. At this point in time, we'll go ahead and close that out. All right. All right. I move to adjourn the public facilities. I will entertain a motion to approve the bond resolution. Motion to approve the bond resolution. Second. Second. It's been moved. It's been moved and properly second. Can we take this vote inside of the portal? That motion was approved unanimously five zero to approve the bond resolution for ninety six million two hundred eighty-five thousand and the intergovernment agreement. Thank you. I'll entertain a motion to adjourn. Second. It's been moved and properly second. You can take this by a show of hands.