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Coppell staff outline 'parameter sale' option for possible bond refunding; council asks for advisor briefing
Summary
City finance staff briefed council on three callable bond issues and presented a 'parameter sale' approach that would let the city authorize sale parameters in advance and let the financial advisor enter the market if rates become favorable. Council asked staff to arrange a briefing with the city’s financial advisor.
Coppell finance staff updated the City Council on Wednesday about three callable bond issues and described an authorization tool called a “parameter sale” that would let the city lock in limits and allow staff or advisors to execute a refunding if market conditions improve.
Kim, finance staff, said she had been working with the city’s financial advisor, Jason Hughes of Hilltop Securities, to evaluate whether callable series could be refunded at a net present‑value savings. She summarized staff analysis showing that only the Series 2013 certificates of obligation currently show a positive net…
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