TO: Honorable Mayor & Members of the North Port Commission
FROM: A. Jerome Fletcher II, ICMA-CM, MPA, City Manager
TITLE: Approve the Digital Assurance Certification (DAC) Pricing Agreement SEC Post-Issuance Compliance and Repository Services for Compliance and Repository Services, Investor Relations Services, and Compliance Certifications in the Initial Amount of $3,500.
Recommended Action
Approve the Digital Assurance Certification (DAC) Pricing Agreement SEC Post-Issuance Compliance and Repository Services for compliance and repository services, investor relations services, and compliance certifications in the initial amount of $3,500.
Background Information
The City has bond issues subject to the continuing disclosure requirements of SEC Rule 15c2-12 and would like to engage Digital Assurance Certification (DAC) as its dissemination agent to assist in carrying out its obligations under existing and future Disclosure Certificates. DAC will be responsible for the following tasks:
> Compile and maintain undertaking requirements.
> Provide notice of and file rating changes.
> Offer ongoing training.
> File and disseminate information provided to DAC in connection with its bond issues.
> Assist in developing policies and procedures for secondary municipal market securities requirements.
DAC will provide disclosure dissemination services with respect to the following bond issues:
> Series 2024 Infrastructure Sales Surtax Revenue Bonds (upcoming bond issue).
> Series 2020 Peace River/Manasota Regional Water Supply Authority Utility System Refunding Revenue Bonds.
> Series 2015 Peace River/Manasota Regional Water Supply Authority Utility System Refunding Revenue Bonds.
> Series 2014B Peace River/Manasota Regional Water Supply Authority Utility System Refunding Revenue Bonds.
The City is obligated to provide continuing disclosure for the debt refunded or refinanced by Peace River/Manasota Regional Water Supply Authority.
The Digital Assurance Certifica...
Click here for full text