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County introduces ordinance to authorize up to $66 million in refunding bonds; municipal advisor projects $2.4M present-value savings
Summary
Luzerne County introduced an ordinance authorizing up to $66,030,000 in general obligation refunding bonds and received a municipal-advisor presentation showing an expected net present-value savings of about $2.4 million if markets hold.
Luzerne County introduced an ordinance authorizing the incurrence of non-electoral debt by issuing general obligation refunding bonds in an aggregate principal amount not to exceed $66,030,000. The bonds would refinance existing 2015 and 2017 general obligation obligations and pay related costs, including possible swap termination payments, and require usual documentation and pledges of full faith and credit.
FSL Public Finance, the…
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