Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Pflugerville council delegates authority to seek limited tax refunding bonds; officials say market turmoil slowed potential savings
Summary
City financial advisers told council a planned refunding of 2014–2015 bonds could yield savings but recent market volatility reduced estimated net present value savings. Council authorized staff to proceed with delegated authority and only issue bonds if minimum savings thresholds are met.
Council members discussed a proposal to authorize the issuance of limited tax refunding bonds for the 2014 and 2015 series and to delegate authority to staff to execute documents if market conditions meet pre-set parameters.
Tracy (finance staff) introduced the item and said staff and financial advisers had identified an opportunity to refund callable 2014–2015 series bonds to realize debt-service savings. Dusty Trailer of RBC Capital Markets explained that market turbulence tied to headline events in the national markets had reduced the expected net present…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
