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Hidalgo County approves $49 million financing package: certificates of obligation and refunding bonds authorized
Summary
Commissioners unanimously approved orders authorizing sale of certificates of obligation and limited-tax refunding bonds to fund predevelopment and road projects and to refinance older bonds, with negotiated rates and savings reported by financial advisors.
Hidalgo County Commissioners Court approved orders authorizing the issuance and sale of Hidalgo County Certificates of Obligation (Series 2025) and limited-tax refunding bonds (Series 2025). County financial advisors said the sale will raise roughly $49,000,008.55 and fund predevelopment costs, road improvements and expansion work tied to a planned jail facility and related projects.
Financial advisors told the court they completed negotiations with the underwriter and reported a fixed interest rate of 4.97 percent on the new certificates of obligation,…
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