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Oxnard committee backs up to $55 million refunding of 2014 wastewater bonds to save about $375,000 a year
Summary
The Finance and Governance Committee voted 3-0 to recommend that the City Council authorize issuance of 2025 wastewater revenue refunding bonds not to exceed $55 million to refund callable 2014 wastewater bonds; staff and consultants estimated annual savings of roughly $375,000 and outlined timing and next steps.
The Oxnard Finance and Governance Committee on June 24, 2025, voted 3-0 to recommend that the City Council adopt a resolution authorizing the issuance of 2025 wastewater revenue refunding bonds in an amount not to exceed $55,000,000, to refund outstanding 2014 wastewater revenue bonds.
Consultants from NHAdvisors, led by Christian Sprunger, presented the refinancing plan and estimated that refunding the outstanding 2014 bonds would save the city and ratepayers about $375,000 a year — roughly a 5.5% net present value savings under current market assumptions. Sprunger said the 2014 bonds carry approximately 5% interest and about $51,700,000 of outstanding par; the proposed 2025 refunding would be fixed‑rate debt with the same…
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