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
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