Coppell council updates bond‑refunding parameters, approving a 3% present‑value threshold and 3.25% interest cap
Council repealed an earlier, more conservative refunding ordinance and approved new parameter‑sale parameters (true interest cost not to exceed 3.25%, minimum present‑value savings of 3%) to preserve the option to refinance callable 2013 and 2016 certificates of obligation when market conditions permit.
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Coppell’s City Council on June 9 approved an ordinance revising the city’s bond‑refunding parameters to allow staff and the city’s financial adviser to pursue a parameter sale refunding if market conditions meet the updated thresholds.
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