HomeMy Public PortalAboutAB 14-130 Revenue Bond Refunding Opportunity
McCALL CITY COUNCIL 216 East Park Street
AGENDA BILL McCall, Idaho 83638
Number AB 14-130
Meeting Date June 26, 2014
AGENDA ITEM INFORMATION
SUBJECT:
Revenue Bond Refunding Opportunity
Department Approvals
Initials
Originator
or
Supporter
Mayor / Council
City Manager
Clerk
Treasurer
/
Originator
Community Development
Police Department
Public Works
Golf Course
COST IMPACT:
Net Savings of Approx. $170,000
Parks and Recreation
FUNDING SOURCE:
Water Fund and Sewer Fund
Airport
Library
TIMELINE:
ASAP
Information Systems
Grant Coordinator
SUMMARY STATEMENT:
Staff has been looking at refunding possibilities for the City’s Bonded Debt Service. There is potential to save approximately $110,000 in the Sewer Fund, final maturity of 09/01/2022,
and $60,000 in the Water Fund, final maturity of 09/01/2018, through the life of the bonds. The potential savings are assuming a September Idaho Bond Bank issuance.
Refunding timeline will be provided at the meeting.
RECOMMENDED ACTION:
Provide direction to Staff regarding refund opportunities.
RECORD OF COUNCIL ACTION
MEETING DATE
ACTION