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Whitehouse council approves notice to issue up to $15.5 million in certificates of obligation
Summary
Council approved a notice of intent to issue combination tax and revenue certificates of obligation to fund capital projects — including a new fire station demolition/rebuild and city hall renovation — while holding the debt-service tax rate steady at 29 cents per $100 of valuation in the model.
The Whitehouse City Council on May 27 voted to publish a notice of intent to issue certificates of obligation for up to $15.5 million to fund priority capital projects identified in the city’s capital-improvements program.
City financial advisers told the council the plan was structured to keep the city’s debt-service tax at roughly 29 cents per $100 of taxable value by using existing debt-service reserves and conservative growth projections. The notice starts a legal publication and waiting period; the council will return July 22 to set final pricing.
Paul Jaso…
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