HomeMy WebLinkAboutA002 - Email between PFM Group and Finance dated February 25, 2009 - refunding opportunities Duane R Pitcher/COA To Sue Rybolt/COA@COA, Roger Wisecup/COA@COA, Carol
02/25/2009 05:17 PM B Collings/COA@COA, Diane R Voss/COA@COA, Steve
Schainker/COA@COA
cc
bcc
Subject Fw:Ames Refunding Numbers
To all,
Some good news on refunding possibilities. We have some current refunding opportunities with several
outstanding issues. Though the bonds are near maturity the extremely low rates on the short end of the
yield curve provide approximately $80,000 in savings for the next 4 years or total PV savings of just over
$300,000. Sue and I have reviewed and recommend going forward. Please check schedule of events for
timing of the issue. Please provide any input you have-otherwise we will plan on moving forward. With
interest rates in the low 2's there is not much more opportunity to get lower rates.
We'll start next year's budget$80,000 ahead on the debt service portion of property taxes -we can use it
all.
Thanks,
Duane
Duane Pitcher, CPA, CPFO
Director of Finance
City of Ames
515 Clark Avenue
P.O. Box 811
Ames, Iowa 50010
Phone (515) 239-5114
-----Forwarded by Duane R Pitcher/COA on 02/25/2009 05:11 PM-----
Tionna Pooler
<poolert@pfm.com> To 'Duane R Pitcher'<DPitcher@city.ames.ia.us>, "Josten,
02/24/2009 04:47 PM Robert"<Josten.Robert@dorsey.com>
cc
Subject Ames Refunding Numbers
Attached are preliminary numbers and a time line. I would like input from Bob regardin the
schedule as well.
Thanks,
Tionna ct '
Tionna Reed Pooler, Senior Managing Consultant COjjcu b
The PFM Group I www.pfm.com poolert@pfm.com
2600 Grand Avenue I Suite 214 Des Moines, IA 50312 Ju0-
515.243.2600 extension 225 (voice) 1515.243.6994 (facsimile)