The Finance Committee held a meeting on March 10, 2016. The Committee reviewed the City's Investment Policy, Debt Management Policy, and Interest Rate Risk Management Products (Derivatives) Policy. The three policies are required to be reviewed annually and ratified by the City Council. The Committee recommended minor changes to the Debt Management Policy and the Interest Rate Risk Management Products (Derivatives) Policy . No changes were proposed to the Investment Policy.
The Committee also approved the financing parameters for the issuance of the City's Capital Improvement Special Revenue Bond, Series 2016A, to refinance the April 1, 2016 designated maturities of the City's Medium Term Note Program.
The Committee then approved the parameters for the issuance of the City's Capital Improvement Refunding Special Revenue Bonds, Series 2016B, for the purpose of refunding the Series 2007B, Series 2009A, and Series 2010C Capital Improvement Special Revenue Bonds to achieve debt service savings.
The Committee also approved the parameters for the issuance of City of Orlando Capital Improvement Special Revenue Bonds, Series 2016C, for the purpose of financing the costs of various public safety and municipal capital projects, including a new public safety computer-aided dispatch (CAD) system.
The Series 2016A, 2016B and 2016C Bonds were approved by the City Council at its meeting on March 14, 2016.