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Llano council approves $1.07 million limited tax note to fund fire truck
Summary
The Llano City Council approved an ordinance authorizing a limited tax note of about $1,070,000 to buy a fire truck and related costs after bond counsel and the city—s financial advisor reviewed bids and recommended a bank at a 4.15% interest rate.
The Llano City Council on a voice vote approved Ordinance No. 1573 authorizing the issuance and sale of a limited tax note in the approximate principal amount of $1,070,000 to finance the purchase of a fire truck and related costs. The council voted to award the sale after a public hearing and presentations from the city—s bond counsel and financial advisor.
Bond counsel Bart Fowler explained the federal tax rules that require a public hearing before issuing tax-exempt or tax-favored obligations and opened the public hearing; no members of the public spoke for or against the…
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