Authority selects Piper Sandler to underwrite refunding bonds
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Description
The Tracy Public Financing Authority will authorize the sale of its 2026 Wastewater Revenue Refunding Bonds to Piper Sandler & Co. to refinance outstanding 2004 wastewater certificates. The transaction is structured with a par amount not to exceed $17 million and is expected to generate significant net present value savings for the wastewater system.
Contract Details
Contract Amount
Principal amount not to exceed $17,000,000; estimated bond size $14,965,000 with approximately $1,524,000 net premium (total gross proceeds $16,489,183)
Vendor
PIPER SANDLER & CO
Agency
City of Tracy, TN
Contract Type
FINANCIAL_SERVICES
Document Date
May 19, 2026
Contract Term
Through final maturity of 2026 Wastewater Revenue Refunding Bonds (expected through December 1, 2036)
Renewal Date
2036-12-01
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