Receive update on refinancing $160 million in pension debt from 2005
In Plain English
The city borrowed $130 million in 2005 to help pay pension costs and faces a $30 million penalty to exit related financial agreements. Charles River Associates reviewed options and found the city could save money by refinancing with conventional municipal bonds. The city hired a new financial advisor to explore refinancing before interest rates rise further.
Auto-generated summary. Source: official agenda documents.
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