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The Colony approves $48.5 million certificates of obligation to finance capital projects
Summary
The Colony City Council approved the issuance and sale of combination tax and limited surplus revenue certificates of obligation series 2025 to provide roughly $48.5 million for budgeted capital projects and to reimburse the general fund.
The Colony City Council approved the issuance and sale of the City of The Colony, Texas, combination tax and limited surplus revenue certificates of obligation series 2025, authorizing roughly $48.5 million in proceeds to fund capital projects and reimburse the general fund.
Hilltop Securities representative Jason Hughes summarized the sale and market context, saying the city received nine competitive bids and “Wells Fargo Bank was the winning bidder at 3.787.” The final par amount sold was $45,910,000, producing approximately $48,528,000 after premium, which Hilltop said will cover issuance costs and leave the remainder to the city.
The council heard that…
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