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Commission conference hears strong demand for Mobile County bond offering; staff recommends acceptance
Summary
A presenter reported heavy demand for Mobile County bonds, a roughly 2.4x subscription and an all-in net interest cost near 3.96% for 20-year debt, and recommended the commission accept the underwriter's verbal offer and approve an authorizing resolution; the transcript records a motion and second but no vote tally.
A presenter at the Mobile County commission conference on Nov. 23 reported the county's recent bond offering drew strong investor demand and recommended commissioners accept the underwriter's verbal purchase offer and approve an authorizing resolution.
The presenter said rating agencies affirmed the county's credit as 'double A1' and 'double A plus stable,' which helped secure favorable pricing. He told the commission that the sale drew about $67,000,000 in orders for $27.5 million in bonds offered, producing roughly a 2.4-times…
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