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Council authorizes redemption of 2017 general-obligation bonds to realize interest savings
Summary
Council gave first reading/approval to Bill 39-80 authorizing redemption of the outstanding general obligation bond series 2017 using about $800,000 of debt-service surplus; staff and financial advisor projected interest savings of more than $250,000 through final maturity in 2037 and said levy and debt capacity remain manageable.
The council approved Bill 39-80 (first reading) authorizing redemption of the outstanding General Obligation Bond Series 2017, using surplus cash in the debt-service fund to pay approximately $830,000 in principal outstanding. Todd Goff with Piper Sandler said city debt models, run after the county provided assessed…
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