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Atlanta committee reviews plan to refinance housing-opportunity bonds; long-term takeout financing left unresolved
Summary
The Finance Executive Committee considered a request to authorize up to $154 million in taxable drawdown bonds and pre-validate up to $158 million in takeout bonds to refinance existing housing opportunity debt. City Treasurer Courtney Knight and Invest Atlanta CEO Eloisa Kumentich detailed prior issuances, deployment and funding buckets; the transcript records a vote with an ambiguous tally.
The Finance Executive Committee on Wednesday, January 28 considered an ordinance authorizing issuance of a taxable drawdown revenue bond not to exceed $154,000,000 and pre-validation of additional takeout bonds not to exceed $158,000,000 to refinance outstanding housing opportunity debt and support projects administered by Invest Atlanta.
City Treasurer Courtney Knight told the committee the city previously issued housing opportunity bonds in 2007 and 2017 and sold taxable bonds directly to JPMorgan in 2021 and 2023. "All we're really asking for is authorization to refinance those bonds that are coming due on March 1," Knight said, describing the requested refinancing as a short-term measure with a…
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