This week the City Council received and accepted the final pricing for the sale of General Obligation Bonds, Certificates of Obligation, Taxable Certificates of Obligation and Tax Notes, and passed four ordinances allowing the issuance of each. The bonds, C.O.s and notes have record low interest rates (ranging from 1.15 percent-2.03 percent), which is a benefit of the City’s recent “Triple A” reaccreditation from both Moody’s and Standard & Poor’s credit rating agencies. Richardson is one of only 10 cities in Texas to achieve both those ratings for 2021.
The total sale will provide close to $53 million in funds for projects approved by voters in the 2015 Bond Program as well as short- and long-term capital expenses, including general infrastructure improvements, information technology, fire and solid waste equipment, water and sewer infrastructure and municipal building improvements.
