CC MEETING: May 17, 2016
DATE: May 12, 2016
TO: Leonard Martin, City Manager
FROM: Laurie Garber, City Secretary/Admin. Services Manager
Title
Discuss The 2016 Bond Issue.
Body
BACKGROUND:
The City of Carrollton General Obligation Improvement and Refunding Bonds, Series 2016, were sold in a competitive bid on May 3, 2016. The issue consisted of $20,170,315.55 of new improvement bonds, and $13,647,386.10 in proceeds to refund the 2007 Series. The refunding resulted in $2,081,604.08 of net present value savings. The sale was done within the parameters ordinance approved by Council on April 5, 2016. Staff will report detail results of the sale during the work session meeting.