Lots Of Interest In Long Term Financing Approved By The Bryan City Council

Screen shot from a city of Bryan document.
Screen shot from a city of Bryan document.

Bryan city council members award $48 million dollars in long term financing.

$20 million is going towards the city’s new indoor tennis center at Midtown Park, $22.3 million for street and drainage projects, and $5.7 million for airport improvements.

The city’s chief financial officer and the council’s third party financial advisors brought up the benefits resulting from a recent improvement in the city’s bond rating to “double A plus”.

Consultant Paul Jasin was among those saying he had never seen 14 bids pursue purchasing long term debt.

The improved bond rating resulted in a lower interest rate which Jasin said would save $2 million dollars in total debt service.

Click HERE to read and download presentation materials from the March 5, 2024 Bryan city council meeting.

Click below to hear comments from the March 5, 2024 Bryan city council meeting.

 

More News