Looks like refinancing would make sense for many municipalities/governmental units.
city’s bond counsel, Kevin McKenna, of Spear Financial, reported the morning’s Internet bond sale had yielded five bids, the lowest of which was by Nashville, Tenn.-based Sterne, Agee & Leach, Inc., with offices in Chicago, for an interest rate of 3.6691 percent. The highest bid received offered a rate of 4.5873 percent.
general obligations bonds….bonds are to defray the cost of the city’s ongoing $75 million water system rehabilitation project.
Moody’s Investors’ Service downgraded the city’s bond rating from Aa2 to Aa3.
Click on the following for more details: City gets ‘very good’ rate in $3.4M bond sale | The Rock River Times
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