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Harlingen commission approves first reading of $10 million waterworks bond package
Summary
On first reading the Harlingen City Commission approved an ordinance authorizing $10 million in waterworks and sewer revenue bonds via the Texas Water Development Board SRF program, a deal city advisers say will lower the true interest cost to about 2.557% and save roughly $2.4 million over the loan life.
The Harlingen City Commission on first reading approved an ordinance authorizing $10 million in Waterworks and Sewer System revenue bonds intended to fund improvements to the city’s water system.
Ann Berger Entrekin, the city’s financial adviser, told the commission the bonds would be issued through the Texas Water Development Board Clean Water State Revolving Fund and carry a projected true interest cost of about 2.557%…
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