BRENHAM - (KWHI) The Brenham City Council issued just over $4 million in certificate of obligation bonds Thursday to pay for the renovations of the Nancy Carol Roberts Library, the construction of the new animal shelter and for the purchase of two new fire trucks.
Gary Kimball, the city's financial advisor with Specialized Public Finance, said he was 'very pleased' with the very low rates he was able to get.
The city had budgeted for a 3.5% interest rate but the bid from BOSCE was at 2.91%. Kimball said this would save the city over $335,000 over a 20 year period.
The City Council also held the second public hearing on the proposed annexations of just over 400 acres of land in four different tracts. The public had no further comments. The City Council will take a final vote on the annexations during a June meeting. City Staffer Julie Fulghum reminded the council that the tracts are all adjacent to the current city limits and extending city services to the areas would be easily accomplished.
The City Council went into executive session to further discuss the marketing of just over 200 acres of land in between Brenham and Chappell. This land was permitted to be landfill for many years but was never used for that purpose. The Council allowed the permit to expire seven years and the City has been trying to sell it since then. The Council hired Hodde Realty to market the property at a meeting earlier this year and they wanted to get an update on the marketing process.