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Scottsdale refinancing portion of debt on the agenda

scottsdaleScottsdale Independent

Favorable market trends prompted Scottsdale financial advisor Piper Jaffray to suggest refinancing a portion of the city’s General Obligation debt in order to decrease Scottsdale debt financing costs, and benefit the taxpayers who finance payment of the current bonds.

The City Treasurer’s Office recommends authorizing staff to issue up to $165 million of General Obligation refunding bonds, according to a Feb. 3 staff report.

Approving the sale of these General Obligation refunding bonds will be discussed Tuesday, Feb. 3 during the Scottsdale City Council meeting at City Hall, 3939 N. Drinkwater Blvd.

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