Bond Refinancing Saves Hazelwood $400,000
The Hazelwood City Council approved the deal at its May 16, meeting, along with some other construction related jobs at city facilities.
Wednesday's Hazelwood City Council meeting had a bit of a surprise for residents and council members. Up for final vote was approval of authorizing the issuance, sale and delivery of general obligation refunding bonds (GOs) through Stifel, Nicolaus & Co., a regional brokerage and investment banking firm. But before council could give its final nod, Hazelwood finance director Lori Helle had to insert an amendment to the bill after deciding to go to market on Wednesday. Mark Grimm, an attorney with Gilmore & Bell explained the difference in the original bill and the requested amendment to the bill. "The interest rate environment was extremely favorable to the City of Hazelwood," Grimm said. "The size of the refunding was up-sized slightly to…
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