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Red Oak approves $16.8 million certificates of obligation for streets, building renovations; officials say no tax-rate impact expected
Summary
The City of Red Oak adopted Ordinance 25-048 to authorize the issuance of Combination Tax and Revenue Certificates of Obligation, Series 2025, with net proceeds of about $16.8 million to fund capital projects; council approved the ordinance 5-0.
The Red Oak City Council on Tuesday adopted Ordinance 25-048, authorizing the issuance and sale of the City of Red Oak, Texas Combination Tax and Revenue Certificates of Obligation, Series 2025, to fund capital projects including streets, building renovations and other infrastructure.
City financial advisers Hilltop Securities presented the plan of finance and recommended issuing certificates that will net approximately $16,802,000 in proceeds. Hilltop’s representative, Jim, said the final issuance…
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