The City of Richardson held an order period for its 2024 Bonds and 2024 Certificates of Obligation on Monday, April 22, with priority granted to individual investors and Richardson residents. In total, the City issued $67,530,000 in general obligation bonds and $20,955,000 in certificates of obligation.
The general obligation bonds had a true interest cost (TIC) effective rate of 3.86 percent, while the certificates of obligation had a TIC rate of 3.81 percent. The low interest rates are attributable to the City’s “Triple A” status from both Standard & Poor’s and Moody’s, a status the City has held for the past 15 years.
The 2024 bonds include funding for street improvements, municipal public buildings, parks, sidewalks and drainage projects. The 2024 certificates of obligation will help fund water and sewer projects, and renovations to the Library. The remaining funds will be used for solid waste equipment and fire equipment.
Press Release: Click here
