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Huntsville finance director outlines $30M borrowing and $63.5M refunding planned for February
Summary
Penny Smith, the city’s finance director, presented the schedule and structure of a multi‑part debt plan that includes a roughly $30 million competitive borrowing, a $6–8 million PBA tranche and a $63.5 million refunding intended to generate about $3.5 million in net savings.
Penny Smith, Huntsville’s director of finance, presented the city’s upcoming debt issuance schedule to the council on Jan. 23, including a Public Building Authority tranche, competitive pricing dates in early February and a refunding plan intended to lower interest costs.
Smith said the city’s credit ratings (Moody’s and S&P) were reaffirmed at AAA in November and described a financing plan that includes: a PBA issuance likely in the $6–8 million range (Smith said she expected the figure to be closer to $6 million) to finalize…
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