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| DATE:
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2/18/2014 7:00:00 PM |
| SUBJECT: |
| Council Consideration of the Selection of RBC Capital Markets for Underwriter Services for the Consolidated Wyoming Municipalities Electric Power System Joint Powers Board Lease Revenue Bond Financing for the Purchase of the CT-II Peaking Facility from Black Hills Wyoming, LLC. |
| BACKGROUND: |
| In order to proceed with the purchase of a 23% interest in the Wygen III power plant by the Consolidated Wyoming Municipalities Electric Power System Joint Powers Board and its lease to the City of Gillette it is necessary that a firm be selected to provide underwriting services. Those services include the preparation of the bonds and their marketing, approval by various agencies including rating agencies. We worked with this firm in the last two bond issues undertaken by the Consolidated Wyoming Municipalities Electric Power System Joint Powers Board and have been very satisfied with their efforts on our behalf. They have agreed to include underwriting firms as part of a selling group to broaden the sale of bonds to Campbell County investors. |
| SUGGESTED MOTION: |
| I move for the Selection of RBC Capital Markets for Underwriter Services for the Consolidated Wyoming Municipalities Electric Power System Joint Powers Board Lease Revenue Bond Financing for the Purchase of the CT-II Peaking Facility from Black Hills Wyoming LLC. |
| STAFF REFERENCE: |
| Charlie Anderson, City Attorney |
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