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Finance working group outlines fall bond and loan plan, including TWDB SWIFT loans and United special-facility bonds
Summary
City finance staff briefed the Budget and Fiscal Affairs Committee on July 29 about planned fall financings, including $150'00 million in general-obligation public improvement bonds, the annual TRAN sale, TWDB multi-year loans for water projects and airport special-facility financings tied to United Airlines.
City finance staff briefed the Budget and Fiscal Affairs Committee on July 29 about multiple upcoming financings they plan to present to council this fall.
General obligation bonds: staff said the city typically converts commercial paper into long-term public improvement bonds and expects a public improvement bond issuance in the $150 million to $200 million range to fund CIP projects for general-fund departments. The office said pricing is likely in September with a probable closing in October and estimated an all-in true interest cost near 4.75 percent on a 20-year amortization schedule.
TRAN (Tax and Revenue Anticipation Notes): staff said the annual TRAN sale bridges cash-flow seasonality…
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