Council Approves Refinance Of Series 2015 Water Bonds

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