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HRA hears introduction to refinance Twin Cities Academy bonds; no new construction proposed
Summary
St. Paul HRA staff introduced a proposal to issue up to $15 million in conduit revenue bonds to refinance prior bonds for Twin Cities Academy; the refinancing would extend maturity and reduce annual payments, and staff said the HRA and City Council will consider the item at upcoming meetings.
Commissioners heard an introductory presentation on a request by Twin Cities Academy to issue conduit revenue bonds to refinance outstanding debt on its school facility; staff said the issuance would not finance new construction.
Jenny Wolf, PED debt manager, said Twin Cities Academy previously issued conduit revenue bonds in 2015 and has an outstanding balance described as just shy of $14,000,000. The school has applied for up to $15,000,000 in conduit revenue bonds to…
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