Glendale City Council
May 21, 2024

Glendale Water and Power
Introduction of the Ordinance Authorizing
Issuance of Electric Revenue Bonds
May 21, 2024
Adrine Isayan, Assistant General Manager – Finance & Risk Management Scott K. Mellon, Assistant General Manager – Power Management Glendale Water & Power
ITEM 8.a
2 Grayson Repower Project – APPROVED December 2022
Scholl Canyon Biogas Project – APPPROVED January 2023
City-Owned Solar Development Program – APPROVED November 2023 Ordinance Establishing COSA Electric Rates – APPROVED November 2023 First Bond Ordinance – ADOPTED January 2024
First Bond Issuance – ISSUED February 2024
Next Step – Second Bond Ordinance and Issuance
Background
• First Tranche of $166M – Closed in February 2024
• Second Tranche of $166M – Closing in August 2024
• Third Tranche of $166M – Expected Close in August 2025 3 Bond Issuance
June 25th – Second Reading of Second Bond Ordinance
– Adoption of Bond Issuance
July 19th – Rating Agency meetings
July 31st– Competitive sale of the bonds
August 14th – Closing of the sale of the bonds
4 Next Steps
5 Questions?