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Officials outline timeline to sell revenue bonds for city capital projects; council told three readings with emergency clause likely June 17
Summary
City financial advisor Paul Phillips and bond counsel summarized a plan to sell revenue bonds, seek credit enhancement, distribute an offering the week of June 9, and return to council June 17 with final bond terms — requiring three readings and an emergency clause that night.
City financial and legal advisers summarized a near‑term schedule on June 3 for issuing revenue bonds to fund capital improvement projects, telling the Jonesboro City Council the city could finalize bond terms and close the financing by late July if the schedule holds.
Paul Phillips, the city’s financial advisor from Cruz and Associates, told council he had begun discussions with insurers and rating agencies and expected to secure a credit enhancement that could deliver a double‑A rating. “We’ll get a double a credit rating by virtue of a…
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