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Council approves sale of $2025 certificates of obligation after favorable bids, S&P affirms rating
Summary
Council adopted an ordinance authorizing the issuance and sale of combination tax and revenue certificates of obligation series 2025 after staff reported six competitive bids and a low net interest cost of about 4.24%, citing a favorable Standard & Poor's rating and anticipated savings versus budgeted interest.
The Copperas Cove City Council on Aug. 5 adopted Ordinance No. 2025-21 authorizing the issuance and sale of City of Copperas Cove combination tax and revenue certificates of obligation, series 2025. Staff said the sale will finance equipment, facility improvements and construction projects included in the FY2024-25 capital plan and that repayment schedules align with asset lives (seven years for equipment, 20 years for facilities).
Budget Director Ariana Beckman and the city’s financial adviser, Gary Kimball, reported…
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