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Gainesville council approves parity resolution clearing way for $60 million water‑sewer bond issue
Summary
The Gainesville mayor and council unanimously approved a parity bond resolution on Sept. 17 that finalizes terms for a sale that will refinance portions of outstanding debt and add about $60 million for water and sewer projects; underwriting materials showed a 3.0844% yield and an anticipated closing Oct. 22.
Gainesville’s mayor and council unanimously approved a parity bond resolution on Sept. 17 that formalizes the sale of Series 2024 water and sewer revenue bonds to refinance existing debt and provide roughly $60 million for construction projects.
Underwriting materials presented to the council showed a bond yield of 3.0844% and an all‑in cost just under 3.64%. Bill Camp of Raymond James, the underwriter, told the council: “You are in the mode to borrow $60,000,000 for water sewer improvements.” He said the transaction combines refunding of callable 2014 bonds with new funds…
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