City of Fernandina Beach Press Release
Submitted by Patti Clifford, Finance Director
The City of Fernandina Beach (the “City”) announced plans to issue approximately $33,000,000 City of Fernandina Beach, Florida Utility System Refunding Revenue Bonds, Series 2013. The refunding’s purpose is to lower the interest rate on a large segment of the City’s outstanding debt. See the Preliminary Offering Statement POS for the ratings.
The bonds are tentatively scheduled to sell on Thursday, June 12, 2013. The City has requested that Nassau County residents have priority in purchasing the Series 2013 Bonds.
This past January, the City put together a bond issuance / refinancing team. The team consists of: City Manager Joe Gerrity; Controller Patti Clifford; City Attorney Tammi Bach; Utilities Director John Mandrick, P.E.; Bryant Miller Olive P.A. as Bond and Disclosure counsel; First Southwest Company as Financial Advisor; GAI Consultants as the Consulting Engineer; and RBC Capital Markets, LLC and Stifel, Nicolaus & Company, Incorporated as the senior managing and co-managing underwriters respectively.
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June 7, 2013 10:06 a.m.
Nice job Patti!
Excellent move Patti.