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Flower Mound council clears parameters for $19.2 million certificates of obligation; S&P affirms AAA rating
Summary
Council approved parameters for issuance of Certificates of Obligation, capping principal at $19.2 million and setting terms for sale; Standard & Poor's reaffirmed the town's AAA rating during the financing process.
The Flower Mound Town Council approved parameters for the issuance of Certificates of Obligation with a principal cap of $19,200,000 and a maturity not to exceed March 1, 2045. The action sets maximum financing parameters and authorizes staff and the town’s financial advisors to pursue competitive sale under those limits.
Town staff and financial advisors described changes to an earlier plan. Staff reported an initial…
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