{"id":37205,"date":"2015-11-20T23:55:57","date_gmt":"2015-11-21T07:55:57","guid":{"rendered":"http:\/\/www.crpud.net\/?p=37205"},"modified":"2019-03-27T13:11:57","modified_gmt":"2019-03-27T20:11:57","slug":"pud-saves-353000-by-refinancing-long-term-debt","status":"publish","type":"post","link":"https:\/\/www.crpud.net\/pud-saves-353000-by-refinancing-long-term-debt\/","title":{"rendered":"PUD Saves $353,000 by Refinancing Long-Term Debt"},"content":{"rendered":"<p>November 20, 2015 \u2013 Columbia River People&#8217;s Utility District (PUD) has refinanced its long-term debt to reduce interest expenses.<\/p>\n<p>The PUD had outstanding 2006 Revenue Obligations with remaining principal of $5,435,000. With related financing expenses, the 2015 Electric Revenue Refunding Loan will be recorded at $5,474,118.<\/p>\n<p>Favorable interest rates prompted now-retired Finance &amp; Customer Services Manager Rick Lugar to send out a request for proposals for the refinancing this fall. Mr. Lugar and long-time PUD financial advisor Alan Dashen of Northwest Municipal Advisors reviewed six proposals that were submitted and selected a loan from US Bank as the best option. The U.S. Bank proposal provides an interest rate of 1.6% over 5 years, which results in savings of $353,000.<\/p>\n<p>&#8220;Low interest rates made this an excellent time to refinance,&#8221; said Interim General Manager John Nguyen. &#8220;We will reduce expenses and still meet our goal of paying off all of the PUD&#8217;s long-term debt by 2020. I appreciate Rick&#8217;s efforts to complete this refinancing project to help us control costs and keep rates affordable.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>November 20, 2015 \u2013 Columbia River People&#8217;s Utility District (PUD) has refinanced its long-term debt to reduce interest expenses. The PUD had outstanding 2006 Revenue Obligations with remaining principal of $5,435,000. With related financing expenses, the 2015 Electric Revenue Refunding Loan will be recorded at $5,474,118. Favorable interest rates prompted now-retired Finance &amp; Customer Services [&hellip;]\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","inline_featured_image":false,"footnotes":""},"categories":[4],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/www.crpud.net\/wp-json\/wp\/v2\/posts\/37205"}],"collection":[{"href":"https:\/\/www.crpud.net\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.crpud.net\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.crpud.net\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.crpud.net\/wp-json\/wp\/v2\/comments?post=37205"}],"version-history":[{"count":0,"href":"https:\/\/www.crpud.net\/wp-json\/wp\/v2\/posts\/37205\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.crpud.net\/wp-json\/wp\/v2\/media?parent=37205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.crpud.net\/wp-json\/wp\/v2\/categories?post=37205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.crpud.net\/wp-json\/wp\/v2\/tags?post=37205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}