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McKinney council approves parameters for four 2025 bond and certificate issuances
Summary
The McKinney City Council voted to set parameters allowing city officials to move forward with competitive sales and closings for four bond and certificate issuances to fund streets, public safety, water and wastewater, library and facility renovations, and partial refundings.
The McKinney City Council on March 4 adopted parameters allowing city staff to move forward with competitive sales and future closings for four separate 2025 debt issuances to fund capital projects and refund callable debt.
City Chief Financial Officer Mark Holloway told the council the package includes a general-obligation issuance of about $37 million (mostly streets and public safety), a $30 million certificate of obligation (including $20 million for Roy and Helen Hall Library renovation and $10 million for an impact facility), a $25 million water/wastewater revenue issuance (water and wastewater improvements), and a tax‑unlimited pledge waterworks and sewer system certificates of obligation series 2025. Holloway said the city also plans smaller refundings bundled with the new money and provided early estimates of lifetime savings on earlier callable bonds.
Holloway said the city expects to receive ratings from Standard & Poor’s and…
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