Laserfiche WebLink
IlVIPACTS TO COUNTY DEPARTMENTS AND/OR EXTERNAL ENTITIES: <br />County departments will have a reduced amount of charges from Business Services - Facilities <br />Management due to the early retirement of the above principal debt. <br />OPTIONS FOR CONSIDERATION: Option 1: Payoff later years of the Certificates qf <br />Participation versus the earlier years allows for savings in the later years which must b~ <br />considered against today's value of those savings. <br />Option 2: Invoice the Trustee holding the funds for Courthouse Square Project. This vNill <br />provide more funds held with the Treasurer and can be used to arbitrage any future priricipal <br />debt payments. <br />RECOMIVIENDATION: Based upon current market conditions and most recent market <br />information and correspondence, our recommendation is to "Call" $2.3 million of the ' <br />following series of principal payments from the funds held in Trust. <br />June l, 2002 $ 600,000 <br />7une 1, 2003 625,000 <br />June 1, 2004 650,000 <br />June 1, 2005 425,000 (partial redemption) ' <br />The remaining funds held with the Treasurer should be used to pay the 7une 1, 2001 p~incipal <br />payment of $580,000 and project costs incurred but not yet paid. <br />DEpAR'TMENT HEAD SIGNATURE: <br />List Attachments: ' <br />