Travis County Commissioners Court
February 5, 2008
Item 34
Number 34 is to accept open bid relating the and consider and take appropriate action on an order authorizing the issuance of $3,795,000 to Travis County permanent improvement bonds series 2008 limited tax and matters pertaining there to. What's the difference between 33 and 34 other than the amount?
>> permanent improvement bond.
>> okay.
>> judge, the winning bid on this was from ubs securities at 4.087211. First southwest company was the second bidder. The reason had this is a little higher is the size is smaller. And also because of the limited tax rather than unlimited tax when you come pair them to the road bands--compare them to the road bondsmoving approval of ubc securities llc as recommended.
>> discussion? All in favor. Show commissionrs ec hearts, Gomez, Daugherty, yours truly voting in favor. Commissioner Davis abstaining.
>> .
>> these have been confirmed already.
>> as per usual we use this by using parity, an internet bid. A common clock. If you notice on the right-hand side of the pages you can see at what time they submitted their bid. In the old days this wasn't possible. Some of these came in within 30 seconds. One of them came in with 13 seconds remaining.
>> okay.
>> also just to make sure that we never have any problems, the parity bid that we use, the program and website, has all the parameters build in which we work out with them the week before based on the notice of sale. If any of the bids don't comply with the bid computations, as soon as this bidder hits the button to put it in, it will reject and tell them you have given us an improper bid. So it's very fail safe. We really have enjoyed using it the last three years.
>> thank you for your dedication and hard work on behalf of the people of Travis County.
>> this means lower taxes because of that. Low rates you got here.
>> sounding more like a politician all the time.
>> I used to be, judge.
>> thank you.
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Last Modified:
Wednesday, February 6, 2008 8:09 PM