Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Saksley council approves resolution to redeem part of 2015 general obligation bonds
Summary
Council unanimously approved a resolution allowing the city to redeem up to $950,000 of its Series 2015 general obligation refunding bonds, with an estimated immediate savings of about $220,000; redemption will be paid from the debt service fund.
The Saksley City Council unanimously approved a resolution Sept. 15 authorizing the city to call and redeem up to $950,000 of its general obligation refunding bond, Series 2015, before maturity. The council voted to adopt the redemption resolution after a short presentation by a city financial representative and discussion on the expected savings and funding source.
The redemption resolution allows the city to pay down a callable portion of the Series 2015 bonds now, which will reduce future interest costs. The city’s…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
