Update, 1:46 a.m. Tuesday, March 6
will be deciding soon on one of two ways to sell bonds, to pay off money borrowed for the .
The two methods described during Monday night's committee meeting by Barbara Chevalier, vice president of Speer Financical, include selling through a competitive structure or through a negotiated sale. Competitive means a request for bids is put out, and lowest gets the bond sale. A negotiated sale would mean bringing in an underwriter to help broker the deal.
Both are viable options, given a handful of factors, Chevalier said. Factors include the total money amount the village will be taking out, between $30 million and $40 million total in bonds broken up into two issuances. Also, the village's credit rating is considered, which is set at AA1 by Moody's and AA+ by S&P. Another factor is market volatility, and Chevalier said the market has been more steady this year.
"There’s no right answer or wrong answer," Chevalier said. "We work with both types. We can facilitate either one."
The board will also be expected to decide whether any of the bonds should be sold locally.
Original Post, 5:58 a.m. Monday, March 5
Tonight, we will be using the live-blogging system Cover It Live to give a minute-by-minute rundown of Monday night's meeting. This is still a new foray, so we ask for a healthy dose of patience as we move forward.
Look through the Cover It Live window, and you’ll see an area where you can join in.
Attached are agendas and media packets for what will be discussed tonight. Leading up to the meeting, let me know if there's anything you particularly want to know about in the comments.