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Council authorizes preliminary official statements for lease revenue bond issuance and ballpark refunding
Summary
Council authorized staff to distribute preliminary official statements for a 2025 lease revenue bond issuance (including new money and refundings) and a separate competitive ballpark refunding; staff said potential refundings would proceed only if they meet savings thresholds.
On Tuesday the City Council authorized the Public Facilities Financing Authority (PFFA) to distribute and execute preliminary official statements for a 2025 lease revenue bond issuance and related ballpark refundings aimed at capturing lower interest rates and net present value savings.
Finance staff said market movement since June created the opportunity to…
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