Camp Verde to save more than $85K as council OK’s refinance of WIFA loans

Mark Reader with brokerage and investment banking firm Stifel Nicolaus tells the Camp Verde Town Council about the roughly $85,000 the Town of Camp Verde will save by effectively refinancing two Water Infrastructure Finance Authority (WIFA) loans. (Photo by Bill Helm)

Mark Reader with brokerage and investment banking firm Stifel Nicolaus tells the Camp Verde Town Council about the roughly $85,000 the Town of Camp Verde will save by effectively refinancing two Water Infrastructure Finance Authority (WIFA) loans. (Photo by Bill Helm)

CAMP VERDE – With Wednesday’s 6-to-0 vote, the Camp Verde Town Council approved a resolution that effectively refinances two Water Infrastructure Finance Authority loans under the Camp Verde Sanitary District – and saves $85,480 over the life of the loans.

With two loans – one in 2004 and one in 2006 – at roughly 3.28 percent combined, Mark Reader with brokerage and investment banking firm Stifel Nicolaus calls the “low historical rate” of 2.16 percent combined as council approved Resolution 2017-993 that authorized the sale and issuance of the Sanitary District’s General Obligation Refunding Bonds.

Reader’s negotiation on behalf of the Town of Camp Verde is what Town Manager Russ Martin called “an attempt to save a little bit of money.”

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