Novato POBs OK'd

Cohen, Jackie
March 2006
Bond Buyer;3/31/2006, Vol. 355 Issue 32351, p37
Trade Publication
The article reports that the Novato City Council has approved a resolution to issue 20 million dollars in pension obligation bonds with an interest rate capped at 6.5 percent. Emily Wagner, Novato's financial adviser recommended that all of the unfunded liabilities in the public safety plan be refinanced through bond issuance. He also suggested that to allow investment earnings and market changes and to avoid overfunding the miscellaneous plan, only 80 percent of the unfunded liabilities be refinanced.


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