At their October 19, 2015 Utility Special District (USD) Board of Directors meeting, the Board discussed and deliberated on the subject of issuing Utility Special District Revenue Bonds.   

On November 16, 2015 the Board, through Resolution 16-15UD authorized and directed the Finance Director to proceed toward the issuance of Bonds for the purpose of funding water and sewer capital projects. Resolution 16-15UD required that prior to the issuance of the Bonds, the Board shall adopt a resolution authorizing the issuance of said series and establishing details with respect thereto. This Supplemental Resolution addresses the requirements of Resolution 16-15UD. Further, on February 17, 2016, the Board adopted Resolution 02-16UD designating Stifel, Nicholaus & Company, Inc. and Siebert Brandford Shank & Co., LLC to provide underwriter services.

The Supplemental Bond Resolution provides certain details of the Utility Special District Series 2016 Revenue.  Subject to the terms and conditions of this Supplemental Resolution, the District will enter into a Bond Purchase Agreement with Stifel, Nicholaus & Company, Inc. and Siebert Brandford Shank & Co., LLC, hereby designated by the Board to be Underwriters of the Series 2016 Bonds setting forth the terms and conditions of the District's agreement to sell and the Underwriters agreement to purchase the Series 2016 Bonds, in substantially the form attached hereto as Exhibit B. Additionally, the Resolution approves the form and distribution of the Preliminary Official Statement, the appointment of U.S. Bank as paying agent and the registration of the bonds.