Authorize swap agreement for wastewater bonds
Resolution Resolution No. 37-09
In Plain English
The city issued bonds to fund wastewater system improvements and pays variable interest rates that change over time. A swap agreement locks in fixed interest rates to protect against future rate increases. If approved, the city gains predictable debt payments but loses the benefit if rates fall.
Auto-generated summary. Source: official agenda documents.
Votes
Approve consent calendar
7 to 0
Community Discussion
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Similar Discussions
5 related items found by meaning
Execute swap agreement for existing wastewater bonds
Issue $45 million in wastewater revenue bonds for system improvements and refinancing
Adopt resolutions for variable rate wastewater revenue bonds and refinancing agreements
Authorize Finance Director to set interest rates on wastewater bonds
Issue bonds to refinance existing wastewater system debt
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