City selling $3.3 million in COs
Submitted by crecord2010 on Tue, 08/20/2013 - 1:26pm
Cuero City Council agreed to sell $3.3 million in certificates of obligation at a special meeting recently Proceeds from the bonds will be used to help pay for a list of projects from streets to park improvements.
Also at that meeting, council took advantage of lower interest rates and refunded about $1.1 million worth of bonds originally sold in 2004. That move will save the city about $58,000.
The newest bond issue will be retired over a 20 year period through property taxes. Interest on these certificates will be about 3.7% over the life of the debt. The certificates were purchased by Raymond James and Associates, Inc.
Read more in this week's edition of the Record.
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