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Burleson reports favorable bond sale results; ratings affirmed, debt service estimated to fall by about $1.5 million
Summary
City staff and Hilltop Securities reported Aug. 12 bond sales that netted approximately $45.26 million in certificates of obligation and $8.5 million in general obligation bonds, with Moody's and S&P affirming AA‑level ratings and lower-than-expected interest costs reducing projected debt service by about $1.5 million.
Burleson officials on Aug. 18 reviewed results of the city’s August 12 bond sales and said market conditions produced better-than-anticipated interest rates.
Deputy City Manager Harlan Jefferson and financial adviser Marty Hsu of Hilltop Securities told the council that the city sold two series: certificates of obligation structured to net about $45,260,000 to the…
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