Watch this from last week > TODAY there are 4 Resolutions asking to approve $185,000,000 in placement transactions in these times of unstable market conditions
2020 ISSUANCE DELAY
6
City typically issues each year in Spring
2020 issuances initially planned for Apr/May
Pandemic in Feb/Mar resulted in unfavorable market conditions
2020 issuances deferred to current timeframe (Nov/Dec)
2021 issuances still planned for Apr/May 2021
6
City typically issues each year in Spring
2020 issuances initially planned for Apr/May
Pandemic in Feb/Mar resulted in unfavorable market conditions
2020 issuances deferred to current timeframe (Nov/Dec)
2021 issuances still planned for Apr/May 2021
City of Mesa Bond Program
3
City financing team:
3
City financing team:
• Internal Staff
• Financial Advisor (Hilltop Securities: Larry Given, Janelle Gold)
• Bond Counsel (Sherman Howard, LLC: Zach Sakas)
Annually, City financing team:
• evaluates need to issue (sell) bonds
• issues bonds to finance budgeted capital projects
• looks for savings opportunities to refund (refinance) existing bonds at lower interest rate over same timeframe
• uses available cash to defease existing debt (pay off early)
• retires, or pays off, bonds that mature (come due)
No comments:
Post a Comment