Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
HRA introduces plan to refinance pledged parking bonds, reduce annual debt service
Summary
St. Paul HRA staff introduced a refinancing plan to defease approximately $19.92 million of prior pledged parking bonds, reduce annual debt service from about $2.2 million to roughly $1.3 million by extending maturities, and adjust which ramps are pledged. No vote was taken; action is scheduled next week.
The St. Paul Housing and Redevelopment Authority received an introductory presentation on a proposed refinancing of pledged parking revenue bonds that staff said would reduce annual debt service payments and adjust which parking facilities are pledged to the bond collateral.
Debt Manager Jenny Wolf and the finance team outlined that the current principal balance of the prior bonds is $19,920,000 and that staff proposes issuing up to $19,000,000 in new bonds (two series) to refinance the prior issue. The proposed project principal amount presented was $16,230,000 for the tax-exempt series and a $795,000 taxable series for the Robert…
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
