Hallsville OKs funds for new pipelines

Hallsville OKs funds for new pipelines
Wednesday, January 22, 2014 - 9:56am

The Hallsville City Council unanimously issued two bonds Tuesday, refinancing about $2.865 million in old debt and adding about $5.16 million to replace aging water lines along FM 450 and U.S. 80.

“Rickey, you ready to do some construction?” Alderman Eric Anderson asked Utilities Superintendent Rickey Dugger after the body issued the debt.

The city worked with Specialized Public Finance to issue the bonds.

The first will refinance 2008 and 1998 city bonds, effectively cutting the interest rate in half. The new bond will be paid by 2028. 

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