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Riverside council authorizes steps to refund 2015 sewer bonds, cites $14.8M estimated savings
Summary
Council approved staff recommendations to move forward with refunding outstanding 2015A sewer revenue bonds; staff said the plan could save roughly $14.8 million (as of June) and reduce near‑term rate pressure for sewer ratepayers while delegating final maturities to the financing team.
The Riverside City Council on Aug. 5 approved staff recommendations to pursue a refunding of the city’s outstanding 2015A sewer revenue bonds, a financing move staff said could save ratepayers millions and reduce near‑term pressure on sewer rates.
City finance staff reported the 2015A bonds were originally issued with roughly $200 million par in 2015 and that $161.1 million remained outstanding as of June 30, 2025. Staff said the existing bonds become callable on Aug. 1, 2025, and that their analysis…
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