ROBERTSDALE SAVES ON REFINANCING BONDS

July 26th, 2016  |  Published in Community Events, Latest News, Mayor's Column, Uncategorized

“Since 2014 the city has strategized to refinance outstanding bond debt to secure lower interest rates and thus provide savings to our community, these efforts have generated a savings of $2,790,955 over the last 3 years, and with each refinance we have also shorten the length of our loans.”  We will continue to review and manage our long term financial needs in maximizing the city’s position in all of our debt structure, so we will produce increased cash flows for city project and minimize the interest we pay on borrowed funds.

ROBERTSDALE BOND SAVINGS

  General Obiligation Bonds

  Water & Sewer Bonds

 Gross Savings

Present Value

Gross Savings

Present Value

 2014  $515,860 $246,901 $852,228 $392,548
 2015(2006)  $631,546 $471,509 $475,275 $354,504
 $71,696  $65,410
 2016  $244,350 $132,960
 TOTAL $1,391,756  $851,370  $1,399,199  $812,462

 

This past year the City of Robertsdale received two exceptional Bond Ratings from Standard and Poor’s Ratings Services and from Moody’s Investors Service.  The Bond Rating from Standard and Poor’s was “A“, and from Moody’s was “A1“.

These ratings show the financial stability to investors that are considering the purchase of municipal bonds.