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OCII authorizes pursuit of up to $300M in refunding bonds to lower debt service
Summary
The Commission authorized staff to pursue issuance of taxable and tax‑exempt refunding tax allocation bonds not to exceed $300 million to refund outstanding debt and lower tax‑increment debt service; staff cited potential present‑value savings and a two‑series structure, and commissioners approved the authorization by voice vote.
The Commission authorized staff to pursue issuance of taxable and tax‑exempt refunding tax allocation bonds in a combined amount not to exceed $300,000,000 to refinance portions of OCII’s debt portfolio and reduce tax‑increment debt service costs.
John Daigle, senior financial analyst, described a two‑series structure in the proposed authorization: a taxable Series B not to exceed $110 million and a tax‑exempt Series C not to…
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