Skip to main content
Loading…
This section is included in your selections.

A District shall not issue any indebtedness that is not substantially consistent with the service plan previously approved by the Town. Prior to the issuance of any indebtedness, the District shall submit the proposed financing to the Town for review and comment. The submission shall include the dollar amount of the issue, the estimated interest rate and other financing costs, the type of revenues pledged to repayment, including amount of the mill levy pledged, and a description of the credit enhancements, together with any preliminary official statement or other prospectus for the debt issue. The submission shall be accompanied by a certification of the Board that the proposed issuance or refinance of indebtedness is authorized by and in compliance with the service plan for the District. (Ord. 791, 2005; Ord. 846, 2006)