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Sweetwater council approves notice of intent to seek up to $2 million in certificates of obligation for EMS and fire equipment
Summary
The Sweetwater City Council approved a resolution to publish notice of intent to issue up to $2 million in combination tax and revenue certificates of obligation to buy a fire truck and ambulance; council will review bids in August and could change the final borrowing amount before sale.
The Sweetwater City Council on June 10 approved a resolution directing publication of a notice of intention to issue up to $2,000,000 in combination tax and revenue certificates of obligation to pay for city emergency medical services equipment and a fire truck.
Andrew Preamen, financial adviser with Samco Capital Markets, told the council the notice of intent is the legal step that allows the city to begin the borrowing process. "That notice of intent lays out what the proceeds of the certificates of…
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