Tax-Exempt General Obligation Note

Description

The City of New Smyrna Beach, Florida (the “City”) is requesting proposals from qualified financial institutions for a tax-exempt, general obligation fixed rate loan (the “Loan”) to a) finance and/or reimburse the cost of acquisition of lands along the Turnbull Creek Watershed and b) to fund the issuance costs associated with the Loan.Hilltop Securities Inc., Orlando, Florida, as Financial Advisor to the City in connection with the Loan, will be assisting the City with respect to the Loan. The City’s Purchasing Agent will oversee the solicitation process and work closely with the Financial Advisor.The Financial Advisor will evaluate all submittals and provide a comprehensive analysis as to the merits and contents of the proposals. The city will make the final determination and recommendation selecting the financing proposal that provides the lowest overall borrowing cost and meets the financing requirements of the city.