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Bay Village staff favor short‑term borrowing to start fire‑station work, then roll into long‑term bonds
Summary
Bay Village finance staff told the committee on May 5 that KeyBank advised issuing short‑term debt to start the fire‑station renovation and later rolling that borrowing into long‑term bonds, citing a roughly 90‑day window required to complete a long‑term bond sale.
Bay Village finance staff told the Finance Committee on May 5 that KeyBank representatives recommended issuing short‑term debt to start the planned fire‑station renovation and then rolling that debt into long‑term borrowing after the final project cost is known.
"…our thoughts really were to issue short term debt, to get the project funded and rolling, and that…
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