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Council approves $1.5 million tax note issue; Hilltop Securities reports 3.52% interest, Oct. 8 closing expected
Summary
The council authorized issuance and sale of City of Texarkana Tax Notes Series 2025 for a par amount of $1,500,000; Jason Hughes of Hilltop Securities said the transaction will net about $1,463,000 in project proceeds, carry a 3.52% interest rate and is scheduled to close Oct. 8 pending Attorney General review.
The City of Texarkana on Wednesday approved an ordinance authorizing the issuance and sale of City of Texarkana Tax Notes Series 2025 with a par amount of $1,500,000. Jason Hughes of Hilltop Securities briefed councilors and said the city marketed the notes via a private placement and received four bids; the winning terms carry a 3.52% interest rate…
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