Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Cibolo council approves $11.5M certificates, $2M in bonds after credit upgrade
Summary
The Cibolo City Council approved $11.5 million in certificates of obligation and $2 million in the first tranche of voter-approved general obligation bonds after receiving a one‑notch credit upgrade and competitive bids that produced below‑budget interest rates.
The Cibolo City Council on Feb. 11 authorized two financings — $11.5 million in certificates of obligation and a $2 million tranche of voter‑approved general obligation bonds — to fund the city’s capital improvement plan and initial work on the public safety and animal care projects.
The measures follow a one‑notch rating upgrade from Standard & Poor’s that the city’s financial adviser said helped produce more bidders and lower interest rates. Victor Quiroga, the city’s financial adviser, told council the winning bid for the certificates came from BOK Financial Securities at a 3.80% fixed interest rate; the $2 million GO tranche drew a 3.87% winning rate. “We…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
