The Minden City Council voted to refinance the City’s Series 2015 Water Bonds during the May 18 regular meeting Brad Slaughter from Piper Sandler & Co. presented two options for the refinancing.
Both options have a lower interest rate than the current 3.423 percent. The first focused on taking a cash flow savings each year while the second focused on total cash flow savings over the life of the bond.
The second option would provide a more significant savings with an interest rate around 2.25 percent and a shortened amortization schedule with debt paid off one year earlier in 2034. This option would provide a total net savings to the City of over $260,000.
see May 27 Courier for full story