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Lansdale finance advisers recommend $12 million bond issue; parameters ordinance expected in March
Summary
Financial advisers presented options for a potential roughly $12 million general-obligation bond issue and asked council to consider a parameters ordinance in March to authorize the borrowing and begin the rating and marketing process.
Lansdale financial advisers and bond counsel outlined a plan to issue roughly $12 million in general-obligation bonds and urged borough council to consider a parameters ordinance at its March meeting to authorize the borrowing and start the rating and marketing process.
The advisers presented a multi-page analysis of interest-rate benchmarks, the borough’s existing debt schedule and a recommended “wrap” amortization that would keep aggregate annual debt service level or declining to comply with the Local Government Unit Debt Act. “This is a general obligation of the borough, meaning the borough can raise taxes to pay that debt service,” the presenter explained, noting the 20-year bond buyer index and the MMD yield as pricing…
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