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Cleburne authorizes up to $16 million in certificates of obligation to fund streets, public safety design and municipal renovations
Summary
Council approved issuing combination tax and revenue certificates of obligation; financial advisers said the sale preserves the current I&S tax rate and S&P affirmed an AA stable rating.
Cleburne City Council voted to authorize the issuance and sale of combination tax and revenue certificates of obligation in an aggregate principal amount not to exceed $16 million to fund street projects, design work for a future public-safety facility and municipal building renovations.
Jim Sabonis, the city’s financial adviser with Hilltop Securities, presented bid results and the final project funding plan. Bids received that day produced a true-interest cost near the levels the city…
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