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GV Saving Money by Refinancing Bonds

Posted: Apr. 30, 2020 12:52 AM PDT

Grass Valley is going to be able to capitalize on lower interest rates by refinancing several financial obligations the city has acquired since 2001. City Finance Director Andy Heath says the process will save Grass Valley almost two million dollars in interest payments on just over eight million dollars of debt.

Listen to Andy Heath

Heath says the new bond will cover three existing bonds.

Listen to Andy Heath

Grass Valley received an A+ rating for issuance of the new bond by Standard and Poor which will bode well as the bonds go to market next week.

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