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Josephine approves $14.995 million certificates of obligation for water, sewer and drainage projects
Summary
City council approved an ordinance authorizing the sale of $14,995,000 in combination tax and revenue certificates of obligation (Series 2025) to fund water, sewer and stormwater projects; Hilltop Securities said the sale produced a AA- rating and a true interest cost near 4.57%.
The City of Josephine on Sept. 8 adopted an ordinance authorizing the issuance and sale of combination tax and revenue certificates of obligation, Series 2025, to fund water, sewer utility projects and stormwater/drainage work.
Jim Savas of Hilltop Securities summarized the competitive sale and financing plan. He reported a final par amount of $14,995,000 from the morning’s bidding and said the transaction benefitted from a AA-minus rating for the city. "We end up…
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