TO: Mayor and Members of City Council
THRU: Timothy L. Bryant, CEO General Manager,
Fayetteville Public Works Commission
FROM: Fayetteville Public Works Commission and
Bond Counsel, The Charleston Group
R. Johnathan Charleston, Esq.
Catherine R. Iwashita Bamba, Esq.
DATE: August 25, 2025
RE:Title
PWC - Adopt Preliminary Resolution Authorizing the Filing of an Application with the Local Government Commission Requesting the Local Government Commission Sell Bonds at a Competitive Sale and Approving of the Financing Team
Title
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COUNCIL DISTRICT(S):
Council District(s)
All
b
Relationship To Strategic Plan:
Goal 1 - Safe and Secure Community
Goal 3 - City Investment in Today and Tomorrow
Goal 4 - Desirable Place to Live, Work, and Recreate
Executive Summary:
The Fayetteville Public Works Commission has determined the need to issue Series 2025 Revenue Bonds (in one or more series) for an identified list of project totaling approximately $163,000,000 and for the refunding of all or a portion of the Fayetteville Public Works Commission Revenue Series 2016 Bonds totaling approximately $67,000,000, for an aggregate principal amount of not to exceed $230,000,000.
Background:
On August 13, 2025, the Fayetteville Public Works Commission adopted the attached Resolution PWC2025.26 and requests City Council adopt a similar resolution at its August 25, 2025 meeting.
“Resolution Making Certain Findings and Determinations, Authorizing the Filing of an Application with the Local Government Commission, Requesting the Local Government Commission to Sell Bonds at a Competitive Sale and Approving the Financing Team all in Connection with the Issuance of Revenue Bonds by the City of Fayetteville, North Carolina”
The identified list of projects to be constructed totals approximately $163,000,000 and the bonds to be refunded total approximately $67,000,000. The resolution states the aggregate principal amount as not-to-exceed $230,000,000
Issues/Analysis:
N/A
Budget Impact:
The Fayetteville Public Works Commission budget currently accounts for the projects and funding sources
Options:
N/A
Recommended Action::Recommended Action
The Fayetteville Public Works Commission recommends the City Council adopt the City Preliminary Resolution at its August 25, 2025 meeting
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Attachments:
PWC Memorandum Regarding the PWC Revenue Bonds, Series 2025
PWC Revenue Bonds, Series 2025 - PWC Preliminary Resolution
PWC Revenue Bonds, Series 2025 - City Preliminary Resolution