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Board approves staff to pursue 2025 debt issuance sooner to lock in rates
Summary
After reviewing comparable municipal sales and current interest trends, the board authorized staff to begin the process of issuing 2025 debt earlier in the year to capture more favorable rates and investment opportunities.
County staff recapped previous discussions about the timing of a 2025 bond issuance and cited a recent comparable sale that received a 3.5% rate. "They received a 3.5% rate," staff said when referencing a December municipal sale used for comparison.
Board members debated issuing earlier (January—April) to potentially secure a better rate and possibly invest proceeds at current LGIP returns, versus waiting until May when the market might be less favorable. Committee member (S6) moved to begin the process sooner; the motion was seconded and approved, authorizing staff to pursue debt issuance timing and gather final estimates for board action.
