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Port Orange previews $30M parks bonds, public-works financing and possible refundings; council to seek bond rating
Summary
Financial advisers outlined plans to issue voter-approved $30 million parks bonds and financing for a public works facility (approx. $21.9M), discussed refunding candidates and a timeline for seeking a bond rating and sale windows.
Financial adviser Toby Wagner of Southeastern Investment Securities presented an updated financing plan to the City Council that would reimburse previously spent park bond dollars and finance an upcoming public works facility.
Wagner said the city is preparing to issue approximately $30 million in voter-approved general obligation (GO) park bonds and additional debt for the public works facility, described in the presentation as roughly $21.9 million with about $7–8 million already spent…
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