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Mesa treasurer briefs council on general‑obligation bonds, debt capacity and interest environment
Summary
City treasurer Mark Hoot told council that Mesa’s average outstanding general‑obligation interest rate is historically low but that current market conditions differ; staff said the city’s general‑obligation debt capacity is about 20% of its limit based on an internal calculation.
Mesa — During the March 17 study session, City Treasurer Mark Hoot briefed council on a proposed general-obligation bond issuance intended to reimburse the city for large capital projects and said the city’s overall outstanding general-obligation and utility‑bond interest rates have been favorable in recent years.
“These bonds will go to pay for or reimburse the city's costs for a variety of large projects, whether it's the Northeast Public Safety…
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