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OCII approves issuance of two refunding bond series to refinance redevelopment debt

Commission on Community Investment and Infrastructure · October 17, 2017

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Summary

The commission authorized issuance of taxable (2017 D) and tax‑exempt (2017 E) refunding bonds to refinance outstanding redevelopment project bonds, citing an upgraded AA‑ rating and large net present‑value savings; commissioners approved final bond documents and the official statement in substantial form.

The commission approved Resolution 43‑2017 to authorize issuance and sale of two series of refunding bonds (2017 D taxable and 2017 E tax‑exempt) to refinance outstanding redevelopment‑era bonds for various project areas.

John Daigle, senior financial analyst for OCII, explained the transaction: the 2017 D…

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