Board of Directors Regular Meeting Agenda


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Meeting Date: 06/19/2014  

SUBJECT MATTER:
Receive, consider and act upon a resolution concerning the Annual Report on Financial Information and Operating Data for the disclosure filing pertaining to Sales Tax and Hotel Occupancy Tax Bonds, Series 2009 and 2010; Sales Tax and Hotel Occupancy Tax Refunding Bonds, Series 2010; and Unlimited Tax Bonds, Series 2010, 2011 and 2012;
FISCAL IMPACT:
Not applicable
BACKGROUND:
The Township had the following bond issuances outstanding on December 31, 2013:
  • $17,825,000 Sales Tax and Hotel Occupancy Tax Bonds, Series 2009
  • $12,175,000 Sales Tax and Hotel Occupancy Tax Bonds, Series 2010
  • $40,800,000 Sales Tax and Hotel Occupancy Tax Refunding Bonds, Series 2010
  • $34,800,000 Unlimited Tax Bonds, Series 2010
  • $9,900,000 Unlimited Tax Bonds, Series 2011
  • $4,205,000 Unlimited Tax Bonds, Series 2012

In order for the Township to meet its contractual obligations with bondholders and pursuant to Rule 15c2-12 of the Securities and Exchange Commission, an annual report is prepared to provide continuing disclosure on the Township's financial information and operating data.  Fulbright & Jaworski, LLP prepared the report using information provided by the Township's staff and financial consultant, FirstSouthwest.  A letter of transmittal from Fulbright & Jaworski, a Board Resolution, and the Annual Report on Financial Information and Operating Data for the year ended December 31, 2013 are attached for review.
RECOMMENDATION:
Adopt attached resolution approving the Annual Report on Financial Information and Operating Data for the year ended December 31, 2013 and authorize the report to be filed with the Municipal Securities Rulemaking Board.
Attachments
Bond Disclosure Report - 2013
Disclosure revision


    

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