Laserfiche WebLink
M <br />January 8,, 1990 <br />To Steve Sarkoizy <br />City Manager <br />From,. Ed Biurrell <br />Finance D36-riector <br />Is <br />Re� I 4b, Work,, Sesifile-On-aw Defeasc-mcer Calll,i Re ndIng <br />As the Coun,c *11 is aware,, st&f f has been preparing to take advan. <br />tiag,e of some recent, opportunities to, f i,ne tune the City I s current <br />debt structure and to achieve what we see as s3.gnif icant f inan- <br />e 6 <br />cilal management objectives. Those olb ect*ves are* <br />I j JL 0 <br />W To improve the Cie-ty I s Balance Sheet to enhance future <br />PlotentILial, fiscal needs for major improvemenLs. <br />qi <br />To continue to work toward better credit standing in <br />the financial community, <br />To reduce higher, interest cost of debt and thus reduce <br />I <br />tihe CIty'si debit, service,, <br />,a s <br />There have been two signifiLcant changes in recent weeks which <br />have these opportunitJes worth striong cons 16-deratl-on Inter- <br />0 <br />zst rates have moiderated consiWerably, and a change in Federal <br />arbitrage laws, 3'_n November,, have reduced some of the onerous <br />0 9 <br />rebating requirements& <br />