If you have the cash and it is not being invested in any way or you donot expect to have any immediate outlays in the near future that you would need this money...by all means pay it off.
Some of the original bonds were at or around 7% but The Villages CDD's have in the past 2-3 years been calling most of the outstanding bonds at their 10 year mark and refinancing them at around 3.5-4%. Village property owners who still have an outstanding bond in these CDD's should have been notified of an adusted payout schedule....ie lower payments.
Just last week in The Village Sun newpsper there was an ad by FMS Bonds Inc who were selling Village Community Development District #6 bonds issued in 2013 callable in 2022, mature in 2035...These bonds were issued with Coupon rate of 4% but were now prices to pay a 4.4% rate tax free. The original coupon rate for these bonds when issued in 2003 was well over 6%.
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