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Rowlett council approves parameter ordinances to authorize up to $76M in debt sale tranches
Summary
Council approved parameter ordinances authorizing pricing officers to issue four tranches of debt (general obligation bonds, combination tax and limited surplus revenue certificates of obligation, tax notes, and water/sewer revenue bonds) with aggregate not-to-exceed amounts as presented and caps on interest cost.
Rowlett — The City Council on July 15 approved a set of parameter ordinances authorizing city pricing officers to price and sell multiple tranches of debt for projects identified in prior bond elections and capital planning. City financial staff told the council the sale would be structured in separate series and each tranche requires a separate motion. The council approved: general obligation bonds up to $48,000,000 (30-year maturity), combination tax and limited surplus revenue certificates of obligation up to…
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