SHREVEPORT, La. (AP) - The Shreveport City Council will consider plans to remarket more than $87 million in hotel and utility bonds ahead of two deadlines that would increase rates on money the city owes for the Shreveport Convention Center Hotel project and on infrastructure projects started in 2005.
The Times reports (https://bit.ly/1hgv48p ) the plans call for marketing bonds under their current structure at variable rates for 5-year holding periods.
The council accepted the introduction of two resolutions at its regular meeting Tuesday. The resolutions will layover for two weeks and then the city council will decide whether to approve them.
According to the resolution, the bonds would be refinanced at a floating interest rate for a five-year holding period, provided that the interest rate does not exceed 12 percent.
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Information from: The Times, https://www.shreveporttimes.com
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