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Finance committee delays bond sale after market volatility
Summary
City staff and financial adviser Anthony Miceli told the West Chicago finance committee on March 2 that recent international events depressed underwriter demand and recommended postponing the competitive bond sale two weeks; staff set a special finance committee meeting for March 16 to return with an updated bond ordinance.
On March 2 the West Chicago Finance Committee was told by staff and the city’s financial adviser that volatility in global markets prompted a recommendation to postpone the city’s planned competitive bond sale by two weeks.
Anthony Miceli of Spear Financial said market demand from underwriters was weak following recent international escalation and that “money is just sitting on the sidelines waiting until they know…
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