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City reviews refinancing options for 2001 sewer bonds; preliminary estimate shows up to $1 million annual savings
Summary
Officials said Lake Havasu City may refinance callable sewer bonds originally issued after a 2001 bond initiative; preliminary numbers suggest refinancing could save roughly $1 million a year in debt service, with formal proposals expected to return to council in the next 60 days.
Lake Havasu City staff told residents the city is evaluating refinancing options for debt tied to the municipal sewer project originally financed by a 2001 bond initiative.
City leaders said the sewer project — a roughly decade-and-a-half buildout following voter approval in 2001 — was refinanced in February 2015. Those refinanced bonds are now callable and staff said the city has an opportunity to again refinance to lower…
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