Richmond City Council
June 7, 2022

City of Richmond
2022 Refunding Pension Obligation Bonds
(Ref. 2005 B‐2 POB)
Financing Schedule
(As of May 12, 2022)
Date PTO/Term Extension Track Discussions on Swap Termination Process Track Private Placement Track Public Offering Track
Tuesday, May 17 City Council Approval of Actuarial Services Contract
Tuesday, May 24 Presentation to City Council on Pension Tax Override Revenues, Huntington Beach
Decision and Potential Term Extension
Tuesday, May 24 City Retains Swap Advisor
Tuesday, June 7 Update to Council on Swap Termination
Process
Update to Council on Bond Refinancing Update to Council on Bond  Refinancing Friday, June 10 Preliminary Bank Placement Bids Received Monday, June 13 Actuarial Report Released
Friday, June 17 Hilltop Distributes Requests to Banks for Bids Tuesday, June 21 Presentation to Council on Private
Placement vs. Public Offering Sale
Presentation to Council on Private
Placement vs. Public Offering Sale
Council Approval of Supplemental
Indenture
Council Approval of Supplemental
Indenture
Wednesday, June 29 Deadline for Receipt of Bank Bids
Friday, July 1 Finance Team makes Recommendation on
Bank Placement vs. Public Offering
Friday, July 15 Winning Bidder Completes Formal Credit
Review
Tuesday, July 26 Presentation to Council on Outcome of
Discussions on Swap Termination Process
Council Approval of POS and Bond
Documents
Monday, August 15 Termination Payment Amount Finalized
Tuesday, August 23 Bond Sale
Wednesday, August 24 Bond Closing
Wednesday, September 7 Bond Closing
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