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Bryan council authorizes parameters for city and rural electric-system bond sales to fund transmission projects
Summary
Council unanimously approved ordinances delegating parameters for the sale of City of Bryan electric-system revenue bonds totaling up to $45 million (city system pricing target $35M construction fund) and rural electric-system bonds up to $23.5M (target $18M construction fund). Staff said pricing is targeted for Nov. 18 and council will receive an informational update in December.
The Bryan City Council voted unanimously to adopt ordinances authorizing parameters for the sale of revenue bonds for the city—s electric system (BTU) and the rural electric system.
City staff and a presenter identified in the record as Steven Adams of Specialized Public Finance described the city-system sale as intended to fund approximately $35,000,000 in new transmission and substation projects, with an estimated reserve fund of about $2,600,000 and an…
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