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Huntsville council approves four‑series warrant issuance; officials say refinancing will net $5.9 million
Summary
The City Council voted to authorize four series of general‑obligation warrants and refunding warrants after staff and bond counsel described a competitive sale that yielded a 3.65% all‑in yield and estimated $5.9 million in net present‑value savings across the city and Huntsville City Schools.
Huntsville’s City Council on March 12 approved an ordinance authorizing the issuance of four series of general‑obligation warrants and refunding warrants for the city and Huntsville City Schools, citing a competitive sale that officials said produced favorable market rates.
City financial advisor Josh McCoy told the council the competitive sale drew nine bids and that the winning purchase offer produced an all‑in investor yield near 3.65% (3.68% all‑in cost to the city). McCoy said the transaction will refund…
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