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Council authorizes certificates of obligation and TWDB loan structure to fund capital projects
Summary
La Marque authorized the issuance of tax‑and‑subordinate‑lien revenue certificates of obligation and accepted a Texas Water Development Board (TWDB) loan structure offering subsidized rates; staff said TWDB terms will save roughly $2 million in debt service compared with public market financing.
The La Marque City Council voted May 12 to authorize sale of tax-and-subordinate-lien revenue certificates of obligation tied to a Texas Water Development Board loan package to fund planned water, sewer and wastewater system projects.
Finance advisers and bond counsel briefed council on the TWDB structure and rates. Staff said the loan will be a 20-year obligation with an all-in interest cost of about 2.46 percent under the TWDB term sheet and an estimated total debt service of roughly $12.68 million. Council advisers…
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