Refinance affordable housing bonds to reduce debt payments
In Plain English
The city issued bonds in the past to fund affordable housing projects and now pays interest on that debt. Current interest rates are lower than when the original bonds were issued. Refinancing allows the city to reduce annual debt payments and free up money for other housing programs.
Auto-generated summary. Source: official agenda documents.
Votes
Adopt Resolution No. 105-06
7 to 1
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