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Houston issues $1 billion in pension obligation bonds

JANUARY 9, 2018 | by Michael Katz | CHIEF INVESTMENT OFFICER

Would you like some false precision with your eggs, sir? Includes “… With the bond issuance, 'the city upholds its promises to its pension systems and residents, and drastically improves its financial trajectory,' said Houston City Controller Chris Brown in a statement. … 'The city’s all-in True Interest Cost (TIC) for this issuance came in at 3.965411% – significantly lower than we initially anticipated,' said Brown.”

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