By Sterline Fluharty | The Glendale Star
Over the next couple months, the City of Glendale plans to refinance much of its nearly $1 billion debt from bonds, lock in lower interest rates and reduce its obligations by as much as $27 million.
“The bond refinancing is a very positive thing, which potentially saves the city a tremendous amount of money,” said city spokeswoman Julie Watters.
Tom Duensing, director of finance and technology, planned to present four ordinances for refinancing to city council at its Nov. 24 meeting. The city wants to take advantage of favorable market conditions and decrease its debt service payments.
