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Roseville council approves refunding of Westpark Community Facilities District bonds; estimates $3.1M savings
Summary
Council authorized issuance of special tax refunding bonds for Westpark CFD No. 1, approving documents to refinance 2015 bonds. Staff estimated roughly $3.1 million net present value savings and an earlier payoff of developer reimbursement obligations.
The Roseville City Council on Sept. 17 approved a plan to refinance outstanding bonds for Westpark Community Facilities District No. 1, authorizing issuance of special‑tax refunding bonds and related documents.
Finance director Scott Pettingell and CFD management analyst Janine Thrash presented the proposal to refund the district’s 2015 refunding bonds, citing current market rates that staff estimated would yield about a 6% net present…
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