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San Angelo officials weigh negotiated sale to allow local buyers for $41.66 million coliseum GO bonds
Summary
City finance staff and the city's financial advisor briefed the council on options to sell $41,660,000 in general obligation bonds for coliseum improvements, explaining competitive vs. negotiated sale methods and how a negotiated sale could reserve an initial order period for San Angelo buyers.
The San Angelo City Council received a briefing on plans to issue $41,660,000 in general obligation (GO) bonds to finance coliseum improvements and on the choice between a competitive bid sale and a negotiated sale that could prioritize local buyers.
Tina Dierski, the city’s director of finance, introduced Vince Vial, managing director with Specialized Public Finance, the city’s financial advisor. Vial told the council the city will move the approved bonds to market and expects to return in July with final interest rates and the ordinance authorizing issuance. "We…
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