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City finance advisor outlines potential refunding of 2016 general obligation bonds; possible near-term savings
Summary
Davenport presented an analysis showing potential net savings of roughly $700,000 on a refinancing of about $19 million of the city's 2016 GO bonds; staff said the public-market sale could be priced Nov. 17, with final approval and closing to follow if the Commission directs staff to proceed.
Davenport & Company presented a market update to the Decatur Commission on Nov. 3 and recommended pursuing a public-market refunding of a portion of the city's 2016 general obligation bonds tied to school projects. The advisor said short-term tax-exempt municipal rates have declined enough that refinancing $19.2…
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