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Bryan Council Refinancing Bonds Next Month

The Bryan city council was given a heads up at its last meeting that next month they will be asked to refinance more than $86 million dollars in bonds.

The city’s chief financial officer, Joe Hegwood, says lower interest rates means saving nearly $8 million dollars over the remaining lives of two bond issues.

Hegwood says refinancing will save an estimated $6.1 million in BTU bonds over the next 15 years and an estimated $1.7 million in bonds for city water and sewer projects during the next ten years.

Hegwood says the bond market and the city’s emphasis on higher cash reserves combined to lower interest rates.

Click below for comments from Joe Hegwood at the Bryan city council meeting on April 11, 2017.

041117-presentation-from-Joe-Hegwood.mp3

 

Click HERE to read and download background information presented to the city council.

Short URL: http://wtaw.com/?p=115271

Posted by on Apr 20 2017. Filed under Featured Stories, News.

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