PSPRS Pension Debt Refinancing
Summary
The town sold bonds to pay off $20 million in public safety pension debt, to be retired over ten years.
At a glance
- Total mentions
- 8
- Last 30 days
- 1
Discussed at 1 meeting in the last 60 days; most recently Oct 28, 2026.
Impact analysis
$20 million in pension debt will be paid off over a ten-year payment plan.
Town taxpayers gain certainty on pension debt costs.
Resident Richard Weland voiced concern about debt and taxes generally, though the refinancing itself adds no new debt.
Mentions & discussions (8)
Payson Town Council - Regular - Oct 28, 2026
The town sold bonds to pay off $20 million in public safety pension debt, to be retired over ten years.
Arizona town tees up debt sale for pension obligations
Arizona town tees up debt sale for pension obligations Bond Buyer
Payson Town Council - Regular - Aug 12, 2026
The council approved refinancing the town's PSPRS pension obligations — capped at 11 years and 6.25% — which is projected to save about $3.4 million in present-value terms. Council stressed this is refinancing, not new debt, and pointed to the 0.88% public safety sales tax set up in 2017 to pay it off.
Payson Town Council - Regular - Jun 24, 2026
Payson owes roughly $19 million in public-safety pension debt and can either borrow through a public bond sale (Stifel, ~5.26% over 11 years) or a direct loan (Holman Capital, 7.59% over 20 years). The council picked Stifel to bring back actual terms, with a final vote expected later.
Payson Town Council - Special - Jun 10, 2026
Payson owes roughly $20 million in unfunded pension debt for police and fire retirees, carrying a 7.2% rate. A proposed pension bond at about 5.34% could save an estimated $3.4 million and stop payments by 2037 instead of 2047. Council hasn't decided yet — a future meeting will take it up.
Payson Town Council - Work Study - May 5, 2026
The town owes roughly $19 million in PSPRS pension liability that wasn't budgeted. Council directed staff to look at bonding options; paying off the current $5 million annual obligation could free about $2 million a year in cash flow.
Payson Town Council - Regular - Apr 8, 2026
Payson owes about $19.5 million in public safety pension debt and pays over $5 million a year toward it. Council heard a direct-lending pitch that could pay it off about five years early and potentially save millions, but wants a bond comparison before deciding.
Payson Town Council - Regular - Jan 14, 2026
The town will move its pension payment funds into a PARS-administered trust that earns interest before bills come due, smoothing out big yearly PSPRS swings. Money stays liquid and the town can exit anytime.
We'll email you when it's on an upcoming agenda and when it's voted on, at most once a day.
The weekly brief for Payson
What the council decided, in plain English — one email a week.
Free. Unsubscribe with one click any time. We never sell your email.