On Tuesday, February 5, 2019 the Duncanville City Council approved the issuance of $20.735M in general obligation bonds at a rate of 3.12%, which is 3/10 of a percent lower than projected, saving the City approximately $800K over the life of the bonds. The bonds were sold at a premium, allowing for the City to realize the full $21.6M in project proceeds authorized by the citizens. The bond issuance is a result of the November 2018 general election where Duncanville voters approved four bond propositions for various park, street, fire and facility projects. The low interest rate is credited to the City’s strong fiscal policies, experienced and stable city management, solid AA bond ratings and overall healthy local economy.
The rate is fixed over the life of the bond and represents a savings of approximately $40K per year as compared to projections. Funds are expected to be available in early March.