Central City Local Government Corporation
Lease Revenue Bonds, Taxable Series 2023 (Fort Worth Crescent Garage Project)
October 17, 2023
The proceeds from the sale of the bonds will be used to acquire three parking structures which will be leased to the City of Fort Worth. The City will make lease payments equal to the debt service through annual appropriation. The bonds priced in a volatile market surrounded by headlines of government shutdowns, the removal of the speaker of the house, and unrest in the Middle East. Overall, the bonds were 1.5x oversubscribed, with full subscription cross every maturity.