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Council approves parameter ordinances to issue G.O. bonds and certificates of obligation for FY2025 projects
Summary
Council approved parameter ordinances that authorize up to $17.2M in general obligation bonds and $17.25M in certificates of obligation to fund fire stations, parks, water/wastewater projects and equipment; staff and advisors noted favorable credit ratings and delegated pricing authority.
College Station authorized the city to issue municipal debt for FY2025 capital needs by adopting two parameters ordinances setting limits and delegating closing authority for general obligation (G.O.) bonds and certificates of obligation (C.O.s). The G.O. parameters ordinance sets a maximum of $17.2 million in G.O. bonds with a maximum true interest cost not to exceed 5% and a final…
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