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Council approves incurrence of indebtedness for Water Utilities Trust; trustees to sell bonds Oct. 23
Summary
The council approved a resolution allowing the Oklahoma City Water Utilities Trust to incur indebtedness to refund commercial paper and issue new money bonds. Financial advisers described the refunding and market conditions; ratings were affirmed by Moody's and S&P.
The Oklahoma City Council voted to approve a resolution authorizing the Oklahoma City Water Utilities Trust to incur indebtedness for a planned bond sale that will refund roughly $50 million of outstanding commercial paper and provide about $150 million of new money, city financial advisers told the council.
Dennis Whaley…
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