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Maverick County reviews plan to restructure 2020 bonds to avoid sharp 2030 tax spike
Summary
Maverick County commissioners on Aug. 15 heard a presentation from David Gonzalez of PfM Financial Advisors on a proposal to restructure the county's 2020 certificates of obligation to avoid a projected seven-cent jump in the interest-and-sinking tax rate in fiscal 2030.
Maverick County commissioners on Aug. 15 heard a presentation from David Gonzalez of PfM Financial Advisors on a proposal to restructure certificates of obligation issued in 2020 to avoid a large bullet payment and a consequent jump in the county's interest-and-sinking (I&S) tax rate in fiscal 2030.
Gonzalez told the court a bank is willing to refinance the outstanding 2020 maturity for a 20-year term at a fixed interest rate of 4.79 percent, which would spread the county's payment obligation and prevent the modeled increase in the I&S rate of roughly seven cents that would otherwise arrive in 2030.
The plan is a restructuring, not a…
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