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City treasurer reports investments outpacing bond interest; staff to brief council quarterly
Summary
City Treasurer Casey Hunsaker told the North Ogden City Council that the city’s portfolio is earning more than the interest the city pays on its outstanding bonds, producing a small positive arbitrage. He recommended continuing to monitor rates and brought quarterly performance figures.
City Treasurer Casey Hunsaker told the North Ogden City Council on a quarterly investment update that the city’s portfolio is currently earning more interest than the city pays on its tax‑exempt bonds, producing a modest positive arbitrage.
Hunsaker said the city invested $5,000,000 about 18 months earlier through METR public investments and participates in the state Public Treasurers’ Investment Fund (PTIF). "We've accrued $126,003 of interest" in the METR account and an unrealized gain of $83,280, Hunsaker said, representing a rate of return for that holding…
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