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Sweetwater awards sale of $2M certificates to fund fire truck; council proposes tax rate and schedules hearings
Summary
Council accepted a bid from BOK Financial Securities to sell combination tax and revenue certificates of obligation to fund a fire truck and ambulance; the meeting also recorded a proposed tax rate of 0.513613 and scheduled tax-rate hearings.
The Sweetwater City Council on Aug. 12 approved the sale of combination tax and revenue certificates of obligation of up to $2,000,000 to finance the purchase of a fire truck and related equipment and accepted the winning bid from BOK Financial Securities.
Andrew Friedman, the city’s financial adviser from Samco Capital Markets, told the council eight bids were received and that the winning bid’s true interest cost was about 3.64 percent. He…
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