Trick-or-Treat Time! No-Risk Mode or Does City Manager Chris Brady Trust In "Playing-The-Market"??

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

 

City of Mesa Bond Program
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)