COUNCIL PLANS TO ISSUE CERTIFICATES OF OBLIGATION

  

After using a million and a quarter dollars of street reconstruction money for other projects, the Brenham City Council intends to repay that money by issuing certificates of obligation.

During Thursday afternoon’s Brenham City Council meeting, the Council gave notice that they intend to issue 3.5 million dollars in certificates of obligation.  During the current fiscal year, the City used 1.26 million dollars earmarked for street reconstruction to complete the new animal shelter and the new renovated and expanded library.  Both of those projects ran way over budget.  The certificates of obligation will replenish the money for street reconstruction, plus put an additional 2 million dollars in the City’s Electric Department Fund for a copper replacement project.  After the proper legal notice, the City intends to authorize the issuing of 3.5 million dollars of certificates of obligation at their September 15th meeting.

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