HomeMy WebLinkAbout11.a. (Handout) Additional Written Announcement Item 11 .a.
(Handout)
Board Meeting of August 16, 2018
Additional Written Announcement:
2009 BOND REFINANCING
8) Pricing for New Bonds
With final bond pricing figures as of August 14, 2018, the present value of the refunding
savings exceeded expectations at $2.604 million. Central San's bonds were sold to
investors at record low yields, at up to 0.32 percent below the benchmark (Money Market
Daily) index. This reflected strong investor demand for the highly rated agency, and the
expectation that the bonds will have good secondary market liquidity in the coming years
as Central San issues additional revenue bonds to fund the capital program.