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Hidalgo County Drainage District reports $44.3M sale, keeps borrowing capacity for future projects
Summary
Bobby Villareal, the district’s financial advisor, told the Drainage District board the district sold three series of bonds totaling about $44.26 million and preserved roughly $90 million of voter-authorized capacity for future drainage projects.
Bobby Villareal, the district’s financial advisor, told the Hidalgo County Drainage District board that the district sold three bond series this month — a refunding, a taxable series and a tax-exempt new-money series — and closed roughly $44.26 million in bonds as part of the district’s 2023 bond authorization.
The sale included a refinancing that lowered interest costs and a taxable tranche for revenue-generating projects, Villareal said. He told the board the market timing — moving sales to Monday and Tuesday before a Federal Reserve action…
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