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Riverside staff recommend refunding sewer revenue bonds to save on future sewer fees
Summary
City staff told the council they plan to pursue a 2025 refunding of outstanding sewer revenue bonds to capture market savings and reduce pressure on sewer rates; council agreed to authorize the financing team to proceed subject to market conditions.
City of Riverside finance staff recommended the city pursue a 2025 refunding of outstanding sewer revenue bonds, describing potential savings and steps needed to move the transaction forward.
Finance presenter Malina Coranza told the council the proposal is structured to refinance multiple prior issues, with remaining principal and projected market-dependent savings. Coranza said staff estimated roughly $18.8 million in potential…
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