Written by Edwina P. Garza Friday, 26 November 2010 01:00
PHARR — Board members of the Hidalgo County Regional Mobility Authority are set to meet twice next week as they prepare documents to get a rating for a bond sale in December and a public hearing for the proposed International Bridge Trade Corridor.
HCRMA's financial consultants said they were working to complete paperwork to be sent to bond agencies, which includes background on the county and the project. Officials said they'd continue to monitor interest rates that are most viable for the initiative; if rates get too high, making the project too pricey for the RMA, officials indicated they'd wait until 2011. The group plans to borrow about $84 million for IBTC. Already, approximately $21 million has been spent on the project.