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Gonzales council OKs amendment to 2024 lease revenue bonds to align with delayed USDA loan
Summary
The council unanimously adopted two resolutions to amend the indenture for the Gonzales Public Financing Authority Lease Revenue Bonds Series 2024A, extending redemption dates to June 1, 2027, to accommodate a delayed USDA loan closing and absorbing estimated additional costs.
Gonzales Mayor Jose Abios and the City Council voted to adopt two resolutions authorizing amendments to the indenture for the Gonzales Public Financing Authority Lease Revenue Bonds Series 2024A, extending mandatory and optional redemption dates to align with a postponed U.S. Department of Agriculture loan closing.
City finance staff told the council the USDA will not be able to review and approve all project expenditures by the original May 1, 2026 mandatory redemption date. To avoid a funding gap, staff proposed a first amendment to the 2024 bond…
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