Expand contract with financial advisor for $90,000 to help refinance $130 million in bonds
In Plain English
The city borrowed $130 million in 2005 to pay pension costs and must refinance these bonds by 2034. Complex financial agreements called swaps create $30 million in additional risk that must be resolved by August 2023. If approved, the city pays advisors to review options and ensure the refinancing minimizes costs.
Auto-generated summary. Source: official agenda documents.
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