We represented the City of Lexington, Tennessee as bond counsel in connection with the issuance of $12 million in Electric System Revenue Bonds. The bonds were issued as a second tranche of financing to fund improvements and extensions to the city’s electric system, including the purchase and installation of fiber-based communications infrastructure to support remote meter reading, outage reporting, and usage monitoring. These upgrades are expected to reduce demand on electric generation facilities and lower long-term costs for customers. A portion of the fiber network will also support the city’s new broadband system, which will provide high-speed internet services to the community and make monthly use payments to the electric system based on its share of usage.
Bond Financing for Electric System Extensions and Broadband Infrastructure
Bond Financing for Electric System Extensions and Broadband Infrastructure
We represented the City of Lexington, Tennessee as bond counsel in connection with the issuance of $12 million in Electric System Revenue Bonds. The bonds were issued as a second tranche of financing to fund improvements and extensions to the city’s electric system, including the purchase and installation of fiber-based communications infrastructure to support remote meter reading, outage reporting, and usage monitoring. These upgrades are expected to reduce demand on electric generation facilities and lower long-term costs for customers. A portion of the fiber network will also support the city’s new broadband system, which will provide high-speed internet services to the community and make monthly use payments to the electric system based on its share of usage.