City of Houston expected to sell $600M bond amid fiscal issues (HBJ)

Photo Courtesy of HBJ

Photo Courtesy of HBJ

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.

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