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County authorizes staff to pursue up to $30 million certificates of obligation ahead of possible state limits
Summary
McLennan County commissioners authorized staff and the county’s financial adviser to proceed with planning a certificates of obligation sale of up to $30 million to finance capital needs and to preserve borrowing flexibility if state law changes.
McLennan County commissioners on May 6 authorized county staff and the county’s financial adviser to proceed with planning for a certificate of obligation financing, potentially not to exceed $30 million, to fund a range of capital projects and to protect the county’s flexibility if state law changes.
Mark McClainey of Samco Capital Markets reviewed the rationale and timeline with the court. He said the Texas Legislature is considering House Bill 19,…
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