Fort Worth, Texas, to sell $85.79 million certificates of obligation

By Cristal Cody

Tupelo, Miss., Aug. 7 - The City of Fort Worth, Texas is set to price $85.79 million of combination tax and revenue certificates of obligation for Tarrant, Denton, Parker and Wise counties, according to a preliminary official statement.

The certificates (Aa1//AA+) have serial maturities from 2013 though 2032.

The certificates will price through a competitive sale on Aug. 14.

First Southwest Co. and Estrada Hinojosa & Co., Inc. are co-financial advisers.

Proceeds will be used to design, construct and equip a police/fire training facility, to purchase equipment for the city's fire department, to construct and reconstruct streets, for water system improvements, to purchase traffic safety signals, to install public art throughout the city and to acquire and construct a telecommunications tower for public safety and 911 communications.

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