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Pearland council authorizes bond sales and refunding steps; staff aims to lock savings if market improves
Summary
Council approved ordinances and resolutions to start the sale of multiple bond issuances, including general obligation refundings and certificates of obligation, and authorized notices of intent with sales scheduled for late July and closing in August. Staff said the city could refund additional callable bonds if market yields improve.
Pearland City Council on May 19 authorized a package of debt actions to fund the fiscal‑year 2025 capital improvement program and pursue refundings of callable bonds, city officials said.
City financial advisors told council the plan combines permanent improvement bonds and refundings, general obligation and revenue‑backed debt for water and sewer projects, and certificates of obligation to realize economies of scale and lower issuance costs. John Robock of BOK Financial Securities summarized the market context, noting recent volatility but predicting rates could…
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