Sherman issues $34M in debt amid historic low rates
Herald Democrat
In an attempt to take advantage of record or near-record low interest rates, Sherman issued nearly $34 million of bonds this week.
The bonds came in two separate issuances, including $29 million that was previously discussed by city leaders in recent months. In late 2020, city officials considered issuing this debt ahead of projects so that the city could utilize historic lows on interest rates. City staff felt a decision needed to be made quickly, as rates were not expected to remain low much longer.
These funds will be utilized for routine fleet upgrades for the city. The vehicles that will be purchased include a dump trick, bucket truck, front-loader truck, fire engine and ambulance, among others.
Sherman plans for land sale: 15 acres near SHS could go for $3-4M
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Sherman approves Public Improvement District for Bel Air development
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Study to address Sherman s aging sanitary sewer lines
Herald Democrat
Modernizing infrastructure in the heart of the Sherman has become a priority for city leaders. An $87,452 contract with Burgess & Niple Inc., who is expected to survey and map the aging sanitary sewer lines that run through downtown Sherman in an effort to address ongoing concerns by business owners and residents, was recently approved.
Through the study, the city hopes to find the cause of reported issues with sewer services in the district, which include odor concerns, among others. This represents the first of nearly $500,000 of investment that the city pledged last year.