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Ennis eyes bond sale

The city has set itself up for a bond sale that is planned to end up saving it money on existing bonded indebtedness.
The process is one the city has undertaken before as recently as 2007. Issuing refunding bonds, said City Manager Steve Howerton, helps reduce the cost of interest payments on original bond debt over time, thereby reducing the costs of prior bond issuances in general. In that sense, it’s akin to a homeowner refinancing a home mortgage.

Commissioners moved to hire a financial firm to oversee its upcoming refunding bond sale at the regular meeting Monday. From here, the city has a planned bond rating conference call with investment ratings firm Moody’s on Oct. 5 and a meeting slated Oct. 18 where the city is planned to approve specifics of the bond issuance.

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Posted by on Sep 22 2010. Filed under Sports. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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