City refinances bonds

Back in September, the Howe City Council voted unanimously to approve a $300,000 capital improvement project while at the same time refinancing the city's existing 2009 Certificates of Obligations. The council opted for a 15- year term that could be called at the end of the tenth year.

The $300,000 project improvement is for water and wastewater improvements, storm sirens and street improvements.

Based on the review of the city financials by Specialized public Finance, Inc. (SPFI), along with the city's tax rate of $0.57, a recommendation was made for the organizations to work closing with prospective lenders. The 15year term would include the $1,351,463 in existing debt service and would include $335,000 in new project funds plus estimated bond issuances.

Jasin told the council in Monday’s meeting that SPFI sent out bids to over 50 banks. Bank United presented an offer of interest rates significantly lower than what was discussed in September.

The tax rate on interest and sinking was adopted at $0.092912 and would increase slightly to $0.104 assuming no growth over the 15-year term. Any residential growth in Howe would assume a lowering of that portion of the tax rate. The term is based off an estimated 3.5 percent interest rate, however, Jasin told the council on Monday that Bank United’s interest rates offered were 2.79 percent for the Certificates of Obligation on a 15 -year term and the GO bonds came in at a 2.30 percent rate with an 11-year term. That creates a savings of around $12,000 per year for the refunding bonds and the new debt service savings are around $28,000.

Jasin said the expected closing date is on January 14 and the city council approved a motion to move forward on the refinancing of the bonds.

Also at the council meeting, Mayor French recognized Public Works Director David Wortham who will be retiring on Jan. 3, 2020 after a 44-year career with the city. French acknowledged Wortham as the brains of the public works department and stated that the city would keep his cell phone number in case of emergency.

Lady Bulldogs open district with smashing of Whitewright, Blue Ridge

The Howe Lady Bulldogs (13-4; 2-0) slammed open the door of district play Tuesday night at Whitewright with a 67-24 drumming of the Lady Tigers. Three Howe players finished in double-digits in points including sophomore Trinity Williams who knocked down 4-of-6 from 3point range. Last year’s District Offensive MVP Cassidy Anderson also pulled the trigger seven times behind the arc and was successful on four of them.

The Lady Bulldogs jumped out to a 20-2 lead after the first period and never looked back and cruised to a 35-6 halftime lead. Howe let off the gas a little in the third quarter and allowed 11 points, but finished with a 19-7 fourth period frame to finish the night with a big statement to District 10-3A.

Howe was led by Williams’ 16 points followed by Sierra Copeland with 13 and Anderson’s 12. Other scorers were Jenna Honore (7), Katie Grogan (6), Molly Wilson (5), Landery Sanders (4), Ally Harvey (3), and Paetyn Ford (1).

The girls then turned their attention to Blue Ridge at home on Friday night where Howe jumped out to a 13-5 lead after the first period but had their largest scoring period of the year in the second by scoring an unbelievable 31 points in the second frame to gather a 44-11 halftime lead. Eventually, Howe coasted in for a 72-27 victory.

Copeland led the Lady Bulldogs with 18 points and 11 rebounds. Harvey added 14 points and Grogan tallied 12. Other scorers were Anderson (8), Honore (6), Williams (5), Wilson (5), and Sanders (4),

The win was number 428 for Howe Head Coach Derek Lands and the Lady Bulldogs will enter the North Central Texas College Holiday Tournament over the break.