By Joe Martin
The city of Houston is preparing to go to market with a $600 million bond sale to recoup cash due to weakening revenues, according to Chris Brown, controller for the city of Houston.
The sale will consist of $107 million of new bonds and $493 million existing debt. The sale is expected to take place on March 22. The $493 million in bond refunds should generate $48 million in savings, with $10 million coming in fiscal year 2017, which starts July 1, according to the controller’s office.