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Council authorizes pooled refunding of four CFD bond issues; vote 4–1 with one abstention
Summary
Chino approved a pooled refunding of four community facilities district obligations to realize estimated present‑value savings of roughly $1.75 million, with the council vote recorded 4 in favor, 0 opposed and 1 abstention.
The City Council and the Chino Public Financing Authority (PFA) voted on July 8 to authorize a pooled refunding of four local obligation bond issues tied to several community facilities districts. Municipal advisor John White presented an analysis estimating roughly $2.1 million in gross annual savings over the life of the refunding, with $1.749 million in present‑value savings — about 5.81% of the refunded par amount under current market assumptions.
White and…
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