Item Coversheet
City of Independence
AGENDA ITEM COVER SHEET

Agenda Title:

Presentation from Springsted, Incorporated on the Financial Capacity to Pursue Implementation of Energy Master Plan.
Recommendations:

Receive presentation
Executive Summary:

Our Financial Adviser, Springsted, Incorporated will be presenting to the Governing Body, an overview of the Financial Capacity of Independence Power and Light.

 

 

Background:

The City of Independence last had its Electric Revenue Bonds rated by S&P rating agency in conjunction with the Series 2016 Revenue Bonds. The City received an "A" rating with a Stable outlook. In its report, S&P cited low coverage and liquidity metrics. Staff asked our independent Financial Advisers to consider the utility's financial capacity to pursue implementation of the Energy Master Plan. Using the metrics that S&P utilizes for rating electric utilities and updated financials, Springsted recalculated the metrics. 

 

Springsted will present their calculations and opinions. 

 

 



Fiscal Impact:

There is no fiscal impact from the presentation. However, staff will utilize the data as the benchmark for the implementation of the Burns & McDonald Energy Master Plan. 



Department:          Finance and AdministrationContact Person:          Bryan Kidney


REVIEWERS:
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Finance DepartmentApproved
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Council Action:          Council Action:         

ATTACHMENTS:
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