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HRA hears introduction for conduit bond refinancing for Twin Cities German Immersion School; public hearing set
Summary
City staff introduced a request for the HRA to issue conduit revenue refunding bonds for Twin Cities German Immersion School to reduce annual debt service; the board will hold a public hearing and both the HRA and city council will consider resolutions next week.
City staff introduced a request Wednesday for the Housing and Redevelopment Authority to issue conduit revenue refunding bonds for the Twin Cities German Immersion School to lower the charter school's annual debt service.
"The HRA and the city take no risk on these," Jenny Wolf of the Department of Planning and Economic Development said in the presentation, explaining that conduit revenue bonds are special limited obligations repayable solely from the borrower’s revenues and that issuing the bonds provides the borrower access to tax-exempt interest rates that reduce…
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