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Financial advisers outline refinancing opportunities that could save Harrisburg millions if municipal rates fall
Summary
Raymond James advisers told the board two callable bond issues (2014 and 2016 series) could be refunded to produce debt‑service savings; the advisers recommended the board adopt a parameters resolution so the team can move quickly if market rates fall, but no action was taken on Feb. 11.
Lou Verdeli and Ryan Brockman of the district's financial adviser team presented a detailed review of the district’s outstanding debt and possible refunding opportunities during the Feb. 11 Committee of the Whole meeting.
Verdeli said the district's 2020–21 refinancing work materially smoothed and lowered the district’s projected debt service. He described two near‑term opportunities: one for a 2014 series with about $8.6 million of principal outstanding and a later opportunity for a 2016 cluster that the firm estimated at roughly $81.7 million in principal outstanding. The 2014 issue’s call date had already passed Dec. 1, 2024, and the 2016…
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