About the Author
Mark Richardson is a multimedia journalist, editor and writer who has worked in digital, print and broadcast media for three decades. He is a nationally recognized editor and reporter who has covered government, politics and the environment. A journalism graduate from the University of Texas at Austin, he was recently awarded a Foundation for Investigative Journalism grant and has three Associated Press Managing Editors awards for excellence in reporting.
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County finds bond market bargain
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.
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