Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
City staff advise caution on new borrowing, report strong credit profile and limited near‑term refinancing opportunities
Summary
Palo Alto staff told the Finance Committee May 20 that the city’s AAA utility and Moody’s AAA general ratings give it strong access to capital markets, but current market conditions and existing state credit features mean refinancing would likely produce marginal net present value savings unless conditions change.
Treasury and finance staff briefed the Finance Committee May 20 on the city’s debt posture and refinancing opportunities, saying Palo Alto enjoys top credit ratings but should be selective about new issuance and refinancing.
Taryn Narayan, manager of treasury, debt and investments, and staff from the city’s fiscal advisor PFM outlined best practices for debt issuance and noted the city’s high credit standing (staff referenced AAA ratings).…
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
