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Grand Prairie council authorizes parameters to refinance $26 million in 2016 bonds, citing about $900,000 projected savings
Summary
The City Council approved an ordinance to set parameters for refinancing roughly $26 million in 2016 debt; staff said current market conditions could yield about $900,000 in savings over 10 years if the city moves forward.
The Grand Prairie City Council voted to authorize staff to set parameters for a refunding ordinance covering about $26 million of 2016 debt, a step city officials said could produce roughly $900,000 in savings over the next 10 years.
Talbot, the city's management services director, told the council the request would let staff move forward if market conditions are favorable. "We're asking council to approve an ordinance allowing…
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