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Committee hears update on refunding prospects as market moves and federal subsidy risk alter savings outlook
Summary
Salt Lake County finance staff told the Debt Review Committee that current municipal and Treasury market movements, along with uncertainty about federal subsidy payments, have left projected refunding savings about $350,000 short in current analysis.
Salt Lake County finance staff updated the Debt Review Committee on refunding and refinancing prospects, saying current market moves and possible changes in federal subsidy policy have made projected savings uncertain.
Jonathan (finance staff) told the committee that, "as of today, earlier today, [we are] $350,000 in the hole on that net present value benefit," describing the county's preliminary refunding analysis. He said municipal bond rates…
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