Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Council hears refinancing options for 2015 jail bonds; net savings small if county uses reserves
Summary
County staff presented options to refinance the 2015 jail bonds, showing gross savings but noting most apparent benefit comes from applying $1.6 million in reserves and a reoffering premium; net present-value savings on the scenario presented were about $24,000.
County leaders received a detailed briefing on refinancing options for the county’s 2015 jail bonds during a presentation to the council.
Jason, a presenter retained to review the issue, told the council the bonds issued in 2015 carry about $9,450,000 in principal outstanding and mature Jan. 15, 2035. He said underwriters showed market scenarios that could reduce annual debt service, but the spreadsheet results rely heavily on applying on-hand cash and a reoffering premium to reduce the new borrowing required.
The presenter showed a “gross”…
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
