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Richardson council approves sale of 2025 general obligation bonds and certificates of obligation; ratings affirmed
Summary
The Richardson City Council approved ordinances authorizing the negotiated sale of the city’s 2025 general obligation bonds and two certificates of obligation after Hilltop Securities and bond counsel reported favorable market interest and affirmed AAA ratings.
The Richardson City Council voted Thursday to approve matters incident to the sale of the city’s 2025 debt issues, including a $61.31 million general obligation (G.O.) bond series and two certificate of obligation issues, one tax-exempt and one taxable for golf-course improvements.
George Willeford of Hilltop Securities reported on the negotiated sale. He told council the deals performed well in the market: Moody’s and Standard & Poor’s affirmed the city’s AAA ratings, and underwriters were able to secure substantial investor interest. Willeford said the G.O. bonds had a par amount of $61,310,000 and would…
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