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Richardson approves ordinances to authorize $60M‑plus 2026 bond and CO sales after competitive bids
Summary
Council members unanimously adopted parameter ordinances authorizing issuance of $25.81 million in General Obligation Bonds (with $1.5M purchaser premium) and $34.695 million in Certificates of Obligation after staff reported competitive sales, AAA ratings from S&P and Moody's, and winning bids from BOK Financial Securities.
City financial advisors and bond counsel reported the results of competitive sales for the city's 2026 financings and the council adopted ordinances authorizing issuance.
Nick Boulash of Hilltop Securities, the city's municipal advisor, told the council the general obligation bonds priced competitively with final par of $25,810,000 and a purchaser premium of about $1.5 million; when the premium is factored in, Boulash said the transaction's true interest cost was roughly…
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