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Starr County approves $1.695 million SIB loan, issues certificates of obligation
Summary
Starr County Commissioners Court approved a $1.695 million State Infrastructure Bank loan with TxDOT and authorized issuance of certificates of obligation; officials said the financing is structured to avoid raising the county tax rate and includes a LoanSTAR Bank certificate option.
Starr County Commissioners Court on Monday approved a resolution to enter a State Infrastructure Bank loan with the Texas Department of Transportation and moved forward with issuing certificates of obligation to support county projects.
County staff told the court the SIB loan is for $1,695,000 at a 3.93% interest rate payable over 20 years, with interest-only payments for the first years and the option to refinance or prepay. Staff also described a proposed certificates of…
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