Board of Directors Meeting Agenda


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Meeting Date: 06/21/2018  

SUBJECT MATTER:
Receive, consider and act upon a resolution regarding the Annual Report on Financial Information and Operating Data for the disclosure filing pertaining to Sales Tax and Hotel Occupancy Tax Bonds, Series 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, 2017:
  • $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.  Norton Rose Fulbright prepared the report using information provided by staff and the Township's financial consultant, FirstSouthwest. 
 
Norton Rose Fulbright has prepared a letter of transmittal, a Board Resolution, and the Annual Report on Financial Information and Operating Data for the year ended December 31, 2017.  These documents are attached for the Board’s review. 
RECOMMENDATION:
Adopt resolution approving the Annual Report on Financial Information and Operating Data for the year ended December 31, 2017 and authorize the report to be filed with the Municipal Securities Rulemaking Board.
Attachments
2017 Annual Report on Financial Information and Operating Data
Resolution 007-18 Annual Report of Financial Information and Operating Data


    

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