VACAVILLE — The city and other public agencies will save more than $3 million by refinancing redevelopment bonds first issued at higher interest rates, a Vacaville representative says.
“We are pleased that market conditions allowed for such a successful refunding,” said Emily Cantu, interim director of the city successor agency to redevelopment, in a press release. “We were fortunate to work with a very talented group of professionals to make this very complicated process a success.”
A total of $32.4 million in bonds originally issued in 1996, 2000 and 2001 were refinanced. Bond payments will continue until 2031.
Piper Jaffray was underwriter, KNN Public Finance was financial adviser and Jones Hall was bond counsel in the bond sales.
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