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Will County reports $5.7 million in savings from 2025 refunding bonds, outlines future borrowing scenarios
Summary
County financial advisers told the finance committee the Oct. 15, 2025 refunding of multiple bond series produced roughly $5.7 million in near-term savings and contributed to combined historical savings of about $24.3 million when paired with a 2020 advance refunding; staff also presented long-range debt capacity and three issuance scenarios.
Will County financial advisers reported to the Finance Committee that the county's 2025A and 2025B refunding bonds, closed Oct. 15, produced about $5,700,000 in savings and were executed without extending the county's overall debt-service footprint.
Anthony Masali of Spear Financial, the county's bond adviser, told the committee the 2025 transactions included a partial tender of 2020 bonds and an advanced refunding. "As a result of all of those, we were able to save through the issuance of the 25 a and 25 b bonds, just over, $5,700,000," Masali said. He added that the 2020 refunding had previously generated roughly $20.5 million in savings; combined with the 2025 work, total savings from the two periods are about $24,300,116.
Masali explained the mechanics and limitations of the tender process used on the 2020 bonds,…
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