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McLennan County OKs publication notice for up to $30 million certificates of obligation
Summary
The Commissioners Court voted to publish a legal notice of intent to issue certificates of obligation not to exceed $30 million to fund capital improvements; sale is tentatively set for July 15 and could be postponed if market conditions are unfavorable.
McLennan County commissioners voted to publish a notice of intent to issue certificates of obligation for an amount not to exceed $30,000,000, setting a tentative sale date of July 15, the county's bond counsel and finance staff told the court.
The notice gives residents formal public notice that the county intends to borrow for long-term capital improvements and sets the schedule for publication and the sale process; County financial adviser Mark McClainy said, "This is not selling the obligations today. ... on July 15, we will be here and we'll be receiving or getting interest rates from prospective bidders or buyers of the bonds." The court…
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