Council Refinances Certificates of Obligation

At its January 11 meeting, Council approved the refunding (i.e. refinancing) of the 2012 Certificates of Obligation at a rate of 1.66%. The interest rate will result in debt savings of approximately $68,000 a year, with a Net Present Value savings in excess of $868,000, over the remaining life of the debt.

 

You can watch Council's refunding discussion here.