May 4, 2010,
Item 29

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>> 29 is to consider and take action on an order authorizing issuance of sale and sale of the travis county, texas certificates of obligation series 2010, limited tax, in the aggregate of principal amount of 108,000 -- $108,250,000, levying a tax in payment thereof. Approving a purchase contract, approving the official statement, and, in enacting other provisions relating thereto.

>> judge and commissioners, on that one, the way the couponing work, the par amount will be 100,305,000 even. Many bonds were sold at a premium because the buyers would like a bigger coupon. On one coupon i saw they actually got 5% but because the yield was so low they got 114. All that extra premium cash goes to the project fund. So jessica looked over it with us, jessica rio, and the amount of money going to the project fund is the same amount as you had planned for by the previous par amount. It all comes out even.

>> okay. So in this resolution and motion we should change $108,250,000 to $100 million -- $100,305,000.

>> yes, sir.

>> okay.

>> and richard, the -- another fact to bring up on that one was the --

>> the true interest cost is 3.92% for that particular issue. It has securities from 2011 to 2030 and the average life is 12.47 years.

>> a little longer average life.

>> questions? Comments?

>> move approval.

>> second.

>> any discussion of the motion? This is on item 29, motion to approve all of the different parts of it, including changing the amount to 100,305,000, right? All in favor of the motion? Show commissioners, eckhardt, huber and yours true voting in favor.

>> commissioner davis abstaining, i submitted the proper documentation to the clerk. My son has -- my son has a relationship with one of the participants in this particular action. Thank you.

>> thank you.

The Closed Caption log for this Commissioners Court agenda item is provided by Travis County Internet Services. Since this file is derived from the Closed Captions created during live cablecasts, there are occasional spelling and grammatical errors. This Closed Caption log is not an official record the Commissioners Court Meeting and cannot be relied on for official purposes. For official records please contact the County Clerk at (512) 854-4722.

Last Modified: Tuesday, May 4, 2010 1:50 PM

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