Council questions bond issuance parameters and 6% rate ceiling
During agenda review, Council Member Shotwell pushed back on a parameters ordinance for bond issuance that would allow issuance only if rates are below a 6% ceiling; staff said current market levels were nearer 4.5% when they last checked.
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During agenda review, Council Member Shotwell asked about agenda item 9—a parameters ordinance related to issuance of bonds—and expressed concern about a rate ceiling that would permit issuance only if rates were below 6%. Shotwell said the 6% threshold "seems like it's awfully high" and added, "If it gets anywhere near 6, please don't."
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