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Longview council approves issuance and sale of 2025 tax notes after competitive bidding

Longview City Council · November 14, 2025

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Summary

Council authorized the issuance and sale of City of Longview tax notes (series 2025) after Hilltop Securities reported a successful competitive sale; winning bid from BOK Financial Securities produced a true interest cost of about 2.683% and a par amount of roughly $7.945 million.

The City Council on Nov. 13 approved an ordinance authorizing the issuance and sale of City of Longview tax notes, series 2025, following a presentation from the city’s financial advisors.

Michael Martin of Hilltop Securities summarized a competitive sale that drew five bids and resulted in a winning bid from BOK Financial Securities. Hilltop reported a true interest cost of approximately 2.6829% and described sources and uses that show a par amount near $7.945 million, premium receipts and a deposit to the project fund of about $8.5 million at closing.

Councilmember questions focused on the value of the city’s AA bond rating and investor pricing. Martin said the affirmed AA rating with a stable outlook lowers borrowing costs compared with lower ratings. Council adopted the ordinance authorizing the notes and related documents by voice vote.