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City issues intent on $7.9 million bond package

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GLYNIS CRAWFORD SMITH/THE HIGHLANDER
Marble Falls City Council members on Tuesday, July 19, view the Marble Falls water plant, awaiting proposed bond funding for the fourth phase of improvements to take the plant to a maximum production of 1.5 million gallons of water per day. On the tour are, from left, Council Member Craig Magerkurth, Mayor John Packer, Mayor Pro Tem Jane Marie Hurst, Public Works Director Perry Malkemus, Council Member Ryan Nash and Water Plant Supervisor Jeff Felps.

By Glynis Crawford Smith
The Highlander
The Marble Falls City Council on Tuesday night, July 19, set its course more firmly toward issuance of  $7.9 million in bonds to fund utility projects.
Members voted unanimously to publish two required notices of intent to issue combination tax and limited pledge revenue certificates of obligation in an amount not to exceed $7,930,000 for the purpose of providing funds for water and sewer  system  improvements,  the  purchase  of  a  backhoe and related expenses.
Finance Director Margie Cardenas introduced city financial adviser, Andrew  Friedman  of  SAMCO  Capital  Markets,  Inc.
“Interest rates are near historic lows,” said Friedman, hopeful they would remain so until September. “They are now well below three percent; today at 2.7 percent.”
A tour of three city utility sites prior to the meeting seemed to confirm council commitment.

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