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DeSoto approves roughly $48.55 million in certificates of obligation to fund streets, parks and aquatic center
Summary
The DeSoto City Council authorized the issuance of combination tax and revenue certificates of obligation Series 2025 to pay for capital improvements including street repairs, traffic signals, parks, water/sewer projects and the aquatic and recreation center; the sale drew a low bid of 4.17% and the ordinance passed 5–2.
The DeSoto City Council on May 6 approved an ordinance authorizing the issuance of City of DeSoto, Texas combination tax and revenue certificates of obligation Series 2025 to fund capital improvement projects including streets, traffic signals, alley and drainage work, water and sewer projects, the city’s aquatics and recreation center and Nance Farm improvements.
City staff and the city’s financial advisors presented final sale results after bids were received earlier that day. “We asked for bids to come in today at 10 a.m., and you got four bids this morning with Wells Fargo Bank coming in as a low bidder for the city certificates of obligation,” Jorge Delgado of Hilltop Securities told the council. Delgado said the…
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