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Amarillo council approves certificate sales to fund equipment, parks and a multi-year streets program
Summary
The council approved a $15.435 million certificates of obligation sale and authorized notice to issue $11.865 million more to fund city equipment, parks projects and a planned multi-year street maintenance program.
The Amarillo City Council voted to approve sale terms for $15,435,000 in certificates of obligation and to publish notice of intent to issue an additional $11,865,000 in certificates to fund equipment purchases, park and lighting projects and a multi-year street maintenance program.
Financial adviser Steven Adams, of Specialized Public Finance, said the city received six bids for the $15.435 million package and selected Frost Bank at an interest rate of 4.33 percent. “We did receive a AAA bond rating, which helps quite a bit in volatile markets,” Adams said. He said the city will close the sale in May 2025 and the council has the option to redeem the bonds on Feb. 15,…
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