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Anna council hears plan to bond remaining Shirley Tract PID assessments, staff directed to proceed
Summary
Financial adviser presented a plan to issue up to $4.16 million in bonds to convert outstanding assessments in Shirley Tract Public Improvement District No. 2, improvement area 1 into bonded debt; council in a work session signaled direction for staff to move forward pending standard approvals.
Anna, Aug. 12 — City financial adviser Andre Ayala of Hilltop Securities presented a plan of finance in a work session for Shirley Tract Public Improvement District No. 2, improvement area 1, asking the City Council to consider issuing bonds to cover assessments the city levied in 2021 but did not bond.
Ayala said the city levied approximately $4,156,832.29 in outstanding assessments on Area 1 that were left as a developer reimbursement obligation after the 2021 bond sale, and the developer has requested that the city bond the remainder. Ayala told the council the project now has broader owner diversification than in 2021, that required tests under…
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