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Commerce council approves $8.6 million certificates of obligation after favorable AA- rating
Summary
The City of Commerce approved issuance and sale of Combination Tax and Revenue Certificates of Obligation Series 2025 (approximately $8.615 million) after receiving an AA- rating; council adopted an ordinance authorizing the issuance and sale.
The City Council adopted an ordinance July 15 authorizing the issuance and sale of the City of Commerce, Texas, Combination Tax and Revenue Certificates of Obligation Series 2025, a competitive sale the city’s financial advisor described as “tremendously successful.”
Jim Sabonis of Hilltop Securities, the city’s financial advisor, told the council the competitive sale drew six bids, the city’s AA- rating…
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