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Pharr bridge board asks city to approve revenue bonds to fund DAP 16 dock expansion
Summary
The Pharr International Bridge Board approved a resolution requesting the City of Pharr authorize issuance and sale of International Toll Bridge System revenue bonds to fund the DAP 16 dock-expansion project; the motion passed after a brief staff explanation that the action aligns with bridge bylaws and bond covenants.
The Pharr International Bridge Board voted Wednesday to ask the City of Pharr to authorize the issuance and sale of International Toll Bridge System revenue bonds to fund the DAP 16 dock-expansion project.
"This is basically in accordance to the bridge bylaws ... and the bond covenants that it needs to pass through the board," Bridge Director Luis Bassan said when introducing the measure and noting the bonds…
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