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LEE COUNTY <br />Committed Today for a Better Tomorrow <br />LEE COUNTY BOARD OF COMMISSIONERS <br />ITEM ABSTRACT ITEM NO. V. A. <br />Information <br />Meeting Date: November 16, 2015 XX Action Item <br />Consent Agenda <br />SUBJECT: Refinancing of the County's 2006 Certificates of Participation <br />DEPARTMENT: Finance <br />CONTACT PERSON: Lisa G. Minter, Assistant County Manager/Finance Director <br />REQUEST: Hear a presentation from Davenport & Company LLC, regarding a <br />potential refunding of our 2006 Certificates of Participation <br />SUMMARY: In 2012, the County refinanced the Certificates of Participation issued <br />in 2004 and realized significant savings. Since that time, Davenport & <br />Company LLC has been monitoring the markets for a potential <br />refunding of our 2006 Certificates of Participation. In February 2014, <br />we mentioned that the market was looking favorable for a refunding but <br />decided that the savings were not yet significant enough. Ted Cole will <br />be at the November 16, 2015 meeting to present to the Board the <br />potential savings from a refunding at this time. <br />BUDGET IMPACT: See attached memo <br />ATTACHMENT(S): Memo from Davenport & Company LLC dated November 9, 2015 <br />PUBLIC HEARING: No <br />PRIOR BOARD ACTION: N/A <br />RECOMMENDATION: Recommend the refinancing and authorize staff to bring back bid <br />process. <br />