Tax-Exempt Capital Improvement Refunding Revenue Note

The City of New Smyrna Beach, Florida (the “City”) is requesting proposals from qualified financial institutions for a tax-exempt, fixed rate loan (the “Loan”) to a) refund the City’s outstanding Capital Improvement Revenue Note, Series 2024 and b) to fund the issuance costs associated with the Loan. The Series 2024 Note was originally issued as an interim draw down note, and the proposed Loan will provide a long-term fix-out of this interim financing.

Hilltop Securities Inc., Orlando, Florida, as Financial Advisor to the City in connection with the Loan, will be assisting the City with respect to the Loan. The City’s Purchasing Agent will oversee the solicitation process and work closely with the Financial Advisor.

The City serves an area of 41.6 square miles in size and serves a population of approximately 33,402. It is located off of Florida’s East Coast, in the County of Volusia, just north of Cape Canaveral with easy access to both Interstate 95 and Interstate 4. The City’s fiscal year begins on October 1st and ends on September 30th.

Information on the City’s government and financial information can be found in City of New Smyrna’s Annual Comprehensive Financial Reports (ACFR) and the annual adopted budget. These reports may be viewed from the following links:

FY 2025 ACFR: https://www.cityofnsb.com/DocumentCenter/View/22699/14295ACFR25-Final-City-of-New-Smyrna-Beach---Final

FY 2024 ACFR: https://www.cityofnsb.com/DocumentCenter/View/21930/14295ACFR24-Final-City-of-New-Smyrna-Beach

FY 2023 ACFR: https://www.cityofnsb.com/ArchiveCenter/ViewFile/Item/2095

FY 2026 Budget Book: https://www.cityofnsb.com/DocumentCenter/View/22230/City-of-New-Smyrna-Beach-2026-Budget-Book