Conejo Recreation & Park District StaffReport Resolution No. 060426-E Authorizing Site Lease and Lease Agreement 2026-06-04
District Considers $15.15M Financing With Webster Public Finance
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Description
Conejo Recreation & Park District proposes to approve a Term Sheet with Webster Public Finance Corporation for a $15.15 million tax-exempt direct bank loan at a fixed 4.46% interest rate to help fund the Fireworks Hill acquisition. The approximately 20-year financing will be repaid via lease payments under the District’s lease-leaseback structure, with principal due annually starting in 2027 and interest semi-annually.
Contract Details
Contract Amount
$15,150,000 (subject to change)
Vendor
WEBSTER PUBLIC FINANCE CORPORATION
Agency
Conejo Recreation And Park District, CA
Contract Type
FINANCIAL_SERVICES
Document Date
June 3, 2026
Contract Term
Approximately 20-year term, final maturity July 1, 2046; principal payments annually beginning July 1, 2027; interest payments semi-annually beginning January 1, 2027
Renewal Date
2046-07-01
Renewal Info
Financing is non-callable in years 1–3, prepayable at 102% in years 4–6, 101% in years 7–9, and at par thereafter; includes a one-time extraordinary call feature up to $5,000,000 without penalty upon receipt of developer fees.
More from WEBSTER PUBLIC FINANCE CORPORATION
Related Contracts
Conejo Recreation and Park District Agenda Regular Meeting 2026-06-04
PENDINGConejo Recreation and Park District Resolution Authorizing Lease-Leaseback Financing for Fireworks Hill 2026-06-04
APPROVEDConejo Recreation and Park District Site Lease 2026-06-01
APPROVEDMountains Recreation and Conservation Authority Lease Agreement 2026-06-01
APPROVEDMountains Recreation and Conservation Authority Assignment Agreement 2026-06-01
AWARDEDIssuing Agency
Conejo Recreation And Park District
Special District
Thousand Oaks, CA
More from Conejo Recreation And Park District
Conejo Recreation & Park District StaffReport Resolution No. 060426-E Authorizing Site Lease and Lease Agreement 2026-06-04
Conejo Recreation and Park District Resolution Approving Engineer's Report and Assessments for Landscape Maintenance District No. 92-1 2026-06-04
Conejo Recreation and Park District Resolution Approving Engineer's Report and Ordering Continuation of Assessments for Fiscal Year 2026-27 2026-06-04
Conejo Recreation & Park District Investment Report 2026-06-04
Conejo Recreation & Park District Investment Report 2026-06-04
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