Ordinance SO2024-0012442
Passed
Refunding of General Obligation/Sales Tax Securitization Corporation Bond, Series 2024
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The City of Chicago has authorized the formation of the Sales Tax Securitization Corporation and the issuance of Bonds and Additional Sales Tax Obligations, up to $1.5 billion, to refund Outstanding Indebtedness. The Bonds, which may be Taxable or Tax-Exempt, will be issued in series and are due within 40 years of issuance. The Mayor, Chief Financial Officer, and City Comptroller will oversee the plan, with the power to determine the sale of Bonds as necessary. The Bonds will be sold as Direct Purchase Bonds and can be redeemed at the City's discretion. The redemption terms will be determined by an Authorized Officer at the time of sale. The City Council has determined that this plan is in the best interests of the City.
Alternate identifiers: O2024-0012442
Sponsors
History
Legislation text
Additional Documents
- Memo to Finance Committee 09.26.2024.pdf
- O2024-0012442 Original Ordinance.pdf
- O2024-0012442 Original Trust Indenture.pdf
- SO2024-0012442 Affadavit.pdf
- SO2024-0012442 Committee Letter.pdf
- SO2024-0012442 EDS.pdf
- SO2024-0012442 Exhibit A - Trust Indenture.pdf
- SO2024-0012442 Transmittal Letter.pdf