Title
A Resolution authorizing the execution and delivery of a Third Amendment to Debt Service Forward Delivery Agreement between the City and Wachovia Bank, National Association.
Body
This item meets the requirements for a Resolution authorizing the execution and delivery of a Third Amendment to Debt Service Forward Delivery Agreement among the City, The Bank of New York Mellon Trust Company, N.A. and Wachovia Bank, N.A.The item is provided by the City's Bond Attorneys in connection with the Combined Utility System Refunding Revenue Bonds Series 2009C. This issuance provides for the refunding of Series 1998C Bonds, Series 2000A Bonds, and a portion of the Series 2000C Bonds. The percentage savings of the refunded bonds is 4.22%, with a net present value savings of $607,824.11. The Third Amendment to the Debt Service Forward Delivery Agreement makes the modifications necessary to reflect the refunding.