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Decatur approves refunding of 2016 school bonds; advisors report nearly $1 million in savings
Summary
The City Commission approved a refunding of 2016 general‑obligation bonds tied to school projects after a competitive sale produced approximately $979,000 in total debt-service savings (about $900,000 present value, roughly 4.66% NPV). Closing is expected Dec. 18 and final maturities run to 2032.
City financial advisers presented the results of a competitive bond sale to refinance selected 2016 maturities on behalf of City Schools of Decatur and asked the commission to approve a bond resolution authorizing terms and administrative actions.
Davenport adviser Doug Gephardt said the sale drew 20 bids and…
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