SUISUN CITY — City Council members will look Tuesday at refinancing some outstanding bonds of the city’s dissolved redevelopment agency – a plan that could save taxpayers millions.
A city staff report says that, based on current market rates, refinancing the bonds will generate $11 million in interest savings through 2033. Annual savings are estimated at $590,000 per year.
The agency has three series of bonds, according to a staff report. All have provisions that allow for refinancing.
The meeting begins at 7 p.m. in the council chamber, 701 Civic Center Blvd. The complete agenda can be found at www.suisun.com.
Reach Amy Maginnis-Honey at 427-6957 or [email protected] Follow her on Twitter at www.twitter.com/amaginnisdr.