Huber Heights staff outline $71.8 million note issuance plan and proposed debt policy, request expedited readings

Huber Heights finance staff on May 8 told the City Council at a work session they plan to return with ordinances to issue short-term notes totaling about $71.8 million — a $56 million general-obligation group and a $15.8 million income-tax revenue note — and asked council to waive second readings so the notes can be priced in late June.

The municipal advisor, Andy Brosart, told council the plan is to group the borrowing into four market offerings for sale, then refinance or convert to long-term bonds later when market conditions are better. “The levy passing is a huge credit positive,” Brosart said, noting the recent public-safety income tax renewal will strengthen the city’s rating conversation with Standard & Poor’s. Staff told council a pricing date around June 24 and a closing before current notes mature on July…