HomeMy WebLinkAbout[06] Debt Management Study
Council Agenda Item 6
MEETING DATE: June 19, 2017
AGENDA ITEM: Monte Eastvold/Tammy Omdal - Debt Management Study
SUBMITTED BY: Finance /Financial Advisor
BOARD/COMMISSION/COMMITTEE RECOMMENDATION: None
PREVIOUS COUNCIL ACTION: None
BACKGROUND INFORMATION: Annually, Monte Eastvold, financial advisor from Northland
Securities, prepares an analysis of the outstanding bonds held by the City of St. Joseph. Attached is the
2017 debt study (with balances as of 12/31/16) Monte prepared with the assistance of finance. The debt
study provides information of what the required tax levies and other revenue sources should be, what
debts might be a candidate to refund or payoff early, how many years remain on each debt, and the
summary of the debt costs versus the requirements to pay the total debt. The study only includes bonds
issued as of the most recent audited financial statements. The 2017 upcoming bond issue is not included.
Also with Monte this year is Tammy Omdal. Tammy is helping the City with the TIF reporting and
would like to introduce herself. Monte stated he plans to retire by the end of the year. Tammy is one of
the Northland Securities staff that will be taking over for him.
BUDGET/FISCAL IMPACT: Information Only
ATTACHMENTS: Request for Council Action
2017 Debt Management Study
REQUESTED COUNCIL ACTION: None – information only