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Hidalgo County drainage district moves forward with financial plan to sell next phase of 2023 bonds
Summary
District financial advisers briefed directors on outstanding debt and the possibility of issuing approximately $45 million of new bonds as a second phase of the 2023 bond program; the board authorized the district’s financial adviser to prepare a financial plan for the sale.
Hidalgo County Drainage District directors on June 24 heard a presentation from the district’s financial adviser and agreed to proceed with preparations for a sale of bonds to fund the next phase of the 2023 bond program.
Bobby Villareal, with Estrada (financial adviser), told the board the district has roughly $249,000,000 of outstanding debt. “I think roughly you you have about 200,000,000 I mean, I'm sorry, 249,000,000 outstanding,” Villareal said during his presentation.
Villareal and staff walked directors through options for refunding portions of older issues with limited…
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