The City of Orange has issued $4.9 million in certificates of obligation bonds for maintenance on the water and sewer system.
Financial advisor Jim Gilley told the City Council this week that the bonds sold Tuesday morning at a 2.95 percent interest rate to Sunco Capital. He said the city has a good AA bond rating and the sale of the bonds drew aggressive bidding.
Bond attorney Guy Goodson said the city had paid off the last water and sewer revenue bonds. The city will pay off the new bonds through water and sewer revenues and tax revenues.
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