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City hears analysis of possible refunding for three bond issues; potential long‑term savings estimated
Summary
Financial advisors presented preliminary analysis of refinancing three prior bond issues (streets LTGO, 2015 UTGO, and 2014 water/wastewater) and said timing will depend on market rates and a 1% net present value threshold in the ordinance.
City financial advisors told the Finance & Administration Committee they have opened a process to evaluate refinancing three outstanding municipal bond issues — the limited tax general obligation (LTGO), a 2015 UTGO that financed Riverfront Park improvements, and a 2014 water/wastewater issue that funded treatment and stormwater projects — and outlined projected savings that would be realized if market rates fall further.
Scott Bauer of Northwest Municipal Advisors summarized the refunding…
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