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Water Trust authorizes up to $220 million in refunding and improvement bonds
Summary
The Oklahoma City Water Utilities Trust approved a resolution to issue up to $220 million in revenue refunding and improvement bonds to refund about $50 million of commercial paper and provide roughly $150 million in new financing to bridge capital project cash needs; ratings were affirmed at AAA.
The Oklahoma City Water Utilities Trust on Oct. 7 approved a resolution authorizing the issuance of utility system revenue refunding and improvement bonds not to exceed $220 million.
PFM financial adviser Dennis Whaley told trustees the transaction would refund approximately $50 million of outstanding commercial paper and raise…
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