By ALEXANDREA BAILEY
editor@sbnewspaper.com
San Benito City Commission convened a regular meeting on Tuesday March 15 inside the San Benito Municipal Building.
San Benito Mayor Ricardo ‘Rick’ Guerra announced that Cameron County reached out to the commissioners with information on two upcoming projects occurring in the city. One project will be on Sam Houston Blvd., and the other on Williams Rd. “That’s a lot of potential for San Benito to grow. I want to thank the Cameron County Judge Eddie Trevino, Jr., and all the commissioners,” said Guerra.
Mr. Don Gonzales, CPA, Senior Managing Director, Estrada, Hinojasa & Company, presented an update on the City of San Benito Texas Obligation Refunding Bonds Series 2022.
The company serves as a financial adviser to the city, according to Gonzales. Six weeks ago, the city presented them with authorization to move forward with a “small refunding” under $2.5 million dollars.
They were able to complete that refunding before the increase in interest rates, according to Gonzales. “If we were receiving the authorization today, the transaction would probably not be going forward because interest rates have moved up and the savings would not be achieved,” he said. They have not yet received ratings for this transaction.
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