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Copperas Cove council authorizes $67,936 payment to U.S. Treasury to comply with 2019 certificates arbitrage rule
Summary
The Copperas Cove City Council voted Oct. 7 to authorize the city manager to submit a $67,936 payment to the U.S. Treasury to comply with 1993 Treasury arbitrage regulations for the city—s 2019 combination tax and revenue certificates of obligation; staff said payment must be submitted by Oct. 14.
The Copperas Cove City Council on Oct. 7 authorized the city manager to submit $67,936 to the U.S. Treasury to satisfy an arbitrage rebate calculation tied to the city—s combination tax and revenue certificates of obligation, series 2019. The payment, city staff said, must be submitted by Oct. 14 to remain in compliance with federal Treasury rules.
Veil Key, director of Financial Services, told the council the rebate…
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