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Council asks CFO to clarify callable-bond language; deferral motion withdrawn after explanation
Summary
Spokane City Council members pressed staff for clarification about language in several ordinances that would allow the city to refinance callable bonds if market conditions change.
Spokane City Council members pressed staff for clarification about language in several ordinances that would allow the city to refinance callable bonds if market conditions change. Council members raised concerns about whether the ordinances could extend bond terms or pre-approve future borrowing without final terms.
City finance staff explained the mechanics. Matt, identified in the meeting as the city’s CFO, told the council that the city cannot change the terms of…
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