Bond Refinancing Nets Savings to New Rochelle

Taking advantage of continued low market interest rates, the City last week sold approximately $10.6 million of general obligation refunding bonds to replace higher-interest 2005 Series A general obligation bonds. The maturity schedule of the refunding bonds mirrors that of the issue being refunded and will produce budgetary savings of $1,346,000 over the next nine years for an average savings to taxpayers of about $150,000 per year.



via New Rochelle Newswire http://ift.tt/1sDD87A