City Council Work Session & Regular Meeting
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Andrew Sibai, Interim Finance Director
Please Review the Bond Ordinance Attached, this is to take advantage of low interest rates and refund the City's Utility Fund Debt and Mall Debt at a lower interest rate.
Staff Recommends that City Council approve this ordinance
CITY MANAGER APPROVAL:
This Bond Refunding will save the City of Palestine at least $1.2 million over the next ten years in the Utility Fund and at lease $220,000 in the Mall Fund.
Series 2020 Bond Refunding Ordinance
Preliminary Official Statement
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