In February 2020, Tampa Bay Water’s board of directors approved the agency to pursue refinancing for three different bond issuances. Two were completed in 2020 and 2021. The final issuance closed in July and saved Tampa Bay Water $20.4 million, or 27% of the refunded bonds, over the life of the bonds. In total, all three bond refinancings provided almost $23 million in net present value savings to the agency.
“As the region grows, so does the need for more water infrastructure. This incredible savings helps Tampa Bay Water, our member governments and, ultimately, water customers in the region," said Christina Sackett, chief financial officer for Tampa Bay Water.