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Boerne to issue $4 million in general obligation bonds to fund Northside Park construction
Summary
The council approved issuance of $3.995 million in general obligation bonds to fund Northside Park construction after staff presented bid results and a financial adviser highlighted a strong rating and competitive bids.
The Boerne City Council voted Sept. 9 to authorize the issuance of the City of Boerne general obligation bond series 2025 to fund construction of Northside Park.
City staff said the city received competitive bids for a $4 million general obligation bond offering. "What we're issuing today is $3,995,000 of general obligation bonds," said Jim Sabonis, managing director with Hilltop Securities, the city's financial adviser. Sabonis said the sale generated a premium that will cover issuance costs and allow a $4,000,000 deposit to the construction fund at closing.
Sabonis told the council the…
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