Items Types:
Business and Financial Services
For Meeting of:
March 28, 2016
District: ALL From:
Contract ID: Document Number:
Exhibits: Yes On File (City Clerk) : Yes Draft Only: No
Grant Received by City?: No

Meeting Minutes - Finance Committee - March 10, 2016


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.

Fiscal & Efficiency Data: N/A

Recommended Action:

Accept the meeting minutes and ratify the Investment Policy, Debt Management Policy and Interest Rate Risk Management Products (Derivatives) Policy, as amended.

Agenda Item attachment(s) on file in the City Clerks Office.

Note: All agenda items must be in the City Clerk's office by Noon Friday, six(6) business days prior to the regular Monday City Council meeting.

Contact: Michele V. Keane
Approved By:

Department Date and Time
Budget Outside Routing Approval 3/17/2016 9:12 AM
City Clerk 3/17/2016 9:40 AM

Name: Description: Type:
Minutes_03102016.pdf Finance Committee Meeting Minutes March 10, 2016 Backup Material
Interest_Rate_Risk_Mgmt_Policy_blackline_v_3.2.16_(2).pdf Interest Rate Risk Mgmt Policy Backup Material
09B._Debt_Policy_blackline_v_3.2.16.pdf Debt Policy Backup Material
05B._Operating_Investment_Policy_v3.2.16_blackline.pdf Operating Investment Policy Backup Material
03B._December_2015_Operating_Reports.pdf Quarterly Performance Report - December 31, 2015 Backup Material

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