Title
2026 Water Sewer Revenue Bonds and Construction Period Financing
Action
Action:
A. Adopt bond orders and resolutions authorizing and approving issuance of Water Sewer Revenue Bonds and Revenue Bond Anticipation Notes and calling for the execution and delivery of various documents necessary to complete the sale,
B. Provide for the issuance of Water Sewer Revenue Bonds in an amount not to exceed $570,000,000 to refund outstanding 2024 Bond Anticipation Notes and callable Water and Sewer Refunding Revenue Bonds series 2015 and 2018,
C. Provide for the issuance of Water Sewer Construction Period Financing in an amount not to exceed $530,000,000,
D. Provide for the issuance of additional Water Sewer Revenue Bonds for optional redemption to refund all or a portion of the city's outstanding Water and Sewer System Refunding Revenue Bonds for approximately $633,000,000 Series 2018, Series 2019, and series 2020 through tender and purchase of such bonds, and
E. Adopt a budget ordinance appropriating $1,203,000,000 in revenue bond proceeds to the Charlotte Water Revenue Bond Debt Service Fund.
Body
Staff Resource(s):
Matt Hastedt, Finance
Angela Charles, Charlotte Water
Melissa Westfall, Charlotte Water
Explanation
* At the April 13, 2026, Business Meeting, City Council authorized the application to the Local Government Commission for debt issuance to fund Charlotte Water Capital Investment Plan projects and to refund existing debt.
* This action provides for the issuance of up to $570 million comprised of the following:
* Refunding of the 2024 construction period financing, which utilized a Bond Anticipation Note (BAN), of approximately $505 million. In 2024, the city obtained the BAN to fund projects on a short-term, interim basis and planned to convert it to long-term, fixed rate revenue bonds at the end of the 24-month construction period.
* Refunding of the callable Water and Sewer Refunding Revenue Bonds series 2015 and 2018 up to $65 million for econo...
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