Bank Loan: Emerson Park Assessment Area

Bids will be received until 'Proposal Submission Time on 'Proposal Submission Date . Late responses will not be accepted. The City of Apopka, Florida (the “City”) is seeking proposals from qualified financial institutions for a non-bank qualified, tax-exempt fixed rate bank loan in an aggregate principal amount not to exceed $2,853,464 (the “Loan” or the “Note”). The proceeds of the Loan will be used, along with other contributed funds, to fund (a) capital improvements to the roadways acquired, constructed, reconstructed or installed by the City for the benefit of the Emerson Park subdivision (the “Project”) and (b) the costs of issuance associated with the Loan and the funding through special assessments. The Loan will be secured by special assessments imposed by the City upon the real property comprising the Emerson Park Assessment Area. From the Loan proceeds, the City will fund its share of the Project costs, costs of issuance and expenses incurred in developing and implementing the special assessments. The City shall accept and review proposals from qualified financing institutions based upon the proposed financing structure as described in the Request for Proposal documents attached. The Request for Proposal document is located in the Attachments Section , please review this document for all proper scope, procedure, contact information , and terms & conditions.