JEA’s Financial and Logistical Services Unit is focused on the strategic risk and cost reduction of JEA’s outstanding debt portfolio. We have issued $821 million in refunding bonds in FY18, saving our customers approximately $69 million over the life of the debt as measured in current dollars.

Statement to Bondholders on 2018 Evaluation Report

JEA commissioned Public Financial Management (“PFM”) to prepare a report to inform the Board of JEA, the City of Jacksonville and the public as to several important considerations that must be evaluated in order to make any decisions regarding JEA’s future. A copy of that report, entitled “The Future of JEA: Opportunities and Considerations,” dated February 14, 2018 (the “Report”), is available below.

View the Report

JEA is unable to predict the likelihood of whether a sale will occur, whether there is any potential timetable for a sale, or how, if at all, the holders of JEA’s bonds may be impacted by any actions that the City of Jacksonville may take in response to the Report.

JEA is providing the Report to the holders of its bonds for general information purposes only. The Report does not include every item which may be of interest, nor does it purport to present full and fair disclosure with respect to any of JEA’s bond programs within the meaning of the federal securities laws. PFM prepared the Report with a view to informing JEA’s Board, the City of Jacksonville and the public concerning the matters it covers, and PFM did not prepare the Report with a view to informing the holders of JEA’s bonds or with a view to informing any person concerning an investment decision in JEA’s bonds. Accordingly, the Report is not suitable for informing any person in the making of an investment decision in any of JEA’s bonds. The Report does not purport to, and does not, inform any person concerning how any sale of JEA or any other action taken in response to the Report may impact the holders of JEA’s bonds. In addition, the valuation-related statements in the Report regarding JEA are not prepared with a view to assess the value of JEA’s bonds.

Any investment decisions regarding the bonds of JEA should be made only after a careful review of the complete offering and other disclosure materials with respect to such bonds, which are available on the Municipal Securities Rulemaking Board’s Electronic Municipal Market Access.

JEA Bond Resolutions