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Will County hears bond refunding gains and three borrowing scenarios; no bond action taken
Summary
Anthony Miceli of Spear Financial told the Will County Capital Committee on Nov. 4 that October refundings and a tender of taxable 2020 bonds produced about $5.74 million in immediate debt-service savings and left the county with about $291 million in par outstanding after the Nov. 15 payment.
Anthony Miceli, a managing director at Spear Financial, told the Will County Capital Committee on Nov. 4 that the county closed two refunding series on Oct. 15, 2025 and used a tender process and advance refunding on a portion of 2020 taxable bonds to capture interest-rate-driven savings.
Miceli said the 2025 refunding and tender produced about $5.74 million in additional debt-service savings and that, measured against the county’s multi-year refunding program, total savings since 2020 exceed $24.3 million. “It was a really successful transaction,” Miceli told the committee.
After the upcoming Nov. 15 payment, Miceli said total par outstanding across general-obligation and alternate-revenue series stands at just over $291 million; about $180 million of that par is callable with the first call dates in 2029 and the last in 2035. He showed a debt-service schedule that projects roughly $30 million…
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