Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Staff outlines plan to refund Anson-area bonds; formal resolution delayed
Summary
County staff detailed a plan to refund 2013 and 2015 A/B Anson TIF bonds to lower interest costs and accelerate paydown, but flagged a $1 million draw-bond issue that requires a revised resolution and will be brought back to the April 17 meeting for adoption.
A staff member told the Boone County board that county officials plan to refund the 2013 and 2015 A and B bonds tied to the Anson tax-increment financing area in order to lower interest rates and shorten the debt schedule.
The staff member said the refunding would ‘‘completely pay off’’ those series and that market conditions should permit moving the coupon from about 6.5% down into the low 4% range, producing interest savings that could allow the county to retire other bonds a year or two earlier. The action is intended to reduce total debt-service costs and remove developer backup from those series, the…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
