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Highland Village approves $7.08 million certificates of obligation after competitive bid
Summary
The Highland Village City Council voted unanimously to adopt an ordinance authorizing the issuance of combination tax and revenue certificates of obligation to fund two street reconstruction projects after receiving competitive bids that produced a 4.01% true interest cost.
The Highland Village City Council on Sept. 9 voted unanimously to adopt an ordinance authorizing the issuance and sale of combination tax and revenue certificates of obligation totaling roughly $7,075,000 to fund reconstruction of Highland Shores Boulevard and Highland Village Road.
City staff presented results from a public competitive bid that produced a true interest cost of 4.01% for the 20-year, fixed-rate certificates. Amber Chen of Hilltop Securities, the city's financing adviser, told the council the city retained…
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