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Nacogdoches council authorizes roughly $14.5 million in bonds to fund fire station, streets
Summary
The Nacogdoches City Council voted May 7 to authorize issuance of the first tranche of voter-approved Series 2024 general obligation bonds after staff reported a competitive sale and an S&P Global rating of double A-minus. Proceeds will primarily fund a new fire project and street work.
The Nacogdoches City Council voted May 7 to authorize issuance and sale of the first tranche of Series 2024 general obligation improvement bonds, following a presentation on the competitive sale and projected fiscal impact.
Interim finance director Todd Simono introduced the item and asked the council to consider an ordinance to issue the first tranche of the voter-approved bonds. John Martin of Hilltop Securities told the council that S&P Global affirmed the city's credit rating at double A-minus and that the bonds were awarded through a competitive sale to Fidelity Capital Markets. "S&P Global affirmed the city's rating…
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