Sections

About Us

 
Make a Donation
Fully-Local • Non-Partisan • Public-Service Journalism
 

County finds bond market bargain

Thursday, October 23, 2014 by Mark Richardson

Travis County went to the bond market recently and found some bargains. Travis County Commissioners recently authorized their bond counsel to issue about $15 million in Texas Highway System Bonds to reimburse the county for money spent on SH45 SW. It is also preparing to issue $84 million in Texas Limited Tax Refunding Bonds aimed at buying down debt and reducing interest payments.  Travis County Financial Adviser Ladd Patillo told Commissioners Tuesday that with the current low interest rates, bond buyers are willing to pay a premium for municipal instruments. He said the county only had to issue $13.6 million to get $15 million in value, saving about $1.4 million on the deal. County finance officials hope for a similar phenomenon when they offer the $84 million in bonds, which Patillo projects will come in with about $6.5 million in savings.

 

Join Your Friends and Neighbors

We're a nonprofit news organization, and we put our service to you above all else. That will never change. But public-service journalism requires community support from readers like you. Will you join your friends and neighbors to support our work and mission?

Back to Top