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FINANCIAL_SERVICESAPPROVED

Tracy Public Financing Authority Agenda Packet 2026-05-19

Authority selects Piper Sandler to underwrite refunding bonds

Principal amount not to exceed $17,000,000; estimated bond size $14,965,000 with approximately $1,524,000 net premium (total gross proceeds $16,489,183)City of TracyPIPER SANDLER & COMay 19, 2026

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Description

The Tracy Public Financing Authority will authorize the sale of its 2026 Wastewater Revenue Refunding Bonds to Piper Sandler & Co. to refinance outstanding 2004 wastewater certificates. The transaction is structured with a par amount not to exceed $17 million and is expected to generate significant net present value savings for the wastewater system.

Contract Details

Contract Amount

Principal amount not to exceed $17,000,000; estimated bond size $14,965,000 with approximately $1,524,000 net premium (total gross proceeds $16,489,183)

Vendor

PIPER SANDLER & CO

Agency

City of Tracy, TN

Contract Type

FINANCIAL_SERVICES

Document Date

May 19, 2026

Contract Term

Through final maturity of 2026 Wastewater Revenue Refunding Bonds (expected through December 1, 2036)

Renewal Date

2036-12-01

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