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Conroy Road CRA Bonds, Series 2012

Public Hearing April 23, 2012 City of Orlando, Florida Community Redevelopment Agency Tax Increment Revenue Refunding Bonds (Conroy Road District), Series 2012. Conroy Road CRA Bonds, Series 2012. Conroy Road District

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Conroy Road CRA Bonds, Series 2012

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  1. Public HearingApril 23, 2012City of Orlando, Florida Community Redevelopment Agency Tax Increment Revenue Refunding Bonds (Conroy Road District), Series 2012

  2. Conroy Road CRA Bonds, Series 2012 • Conroy Road District • Established in 1991 to address transportation deficiencies in the I-4/Conroy Road area • Tax increment revenues are received from the City and Orange County and used to pay debt service on the 1998A Conroy Road Special Assessment Bonds. Excess revenue is rebated back to City and County. • Separate and distinct from the Downtown CRA District

  3. Conroy Road CRA Bonds, Series 2012 • Purpose – Refund the Series 1998A Conroy Road Special Assessment Bonds • Series 1998A Bonds • Financed the construction of the interchange at I-4 and Conroy Road

  4. Conroy Road CRA Bonds, Series 2012 • Why Refinance the 1998A Bonds? • Take advantage of historically low interest rates to reduce the cost of debt service

  5. Conroy Road CRA Bonds, Series 2012 • Repayment source is tax increment revenues from the Conroy Road CRA District • Fixed Interest Rates • Expected savings of $4.7 Million • Excess tax increment revenues are rebated back to the City and County. This refunding will increase the amount of those rebates.

  6. Conroy Road CRA Bonds, Series 2012 • Required Actions • City Council public hearing to adopt a Resolution approving the CRA’s issuance of the bonds • CRA approval of a Resolution authorizing the issuance of the bonds • Pursuant to Florida Statutes Section 163.346, Notices to Taxing Authorities were mailed on April 5th and this hearing was advertised in the Orlando Sentinel on April 9th.

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