Town Of Moraga

$7.72 Million Expedite the Town's Road Repair

On August 21, $7.72 million in proceeds from the successful issuance of the 2013 Certificates of Participation (COP) was deposited with Wilmington Trust, the Town's trustee of the funds. The Town plans to spend the proceeds on the street pavement program (see related article below) over the next three years. By the end of this pavement season, the Town expects to draw down the first $2 million of the proceeds. Annual debt payments over the next 20 years will service the financing.

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