... Utility System First Lien Revenue Refunding Bonds, Series 2017B, scheduled on April 20 via negotiation. Security: All bonds are special obligations of Houston (the city), payable from and secured by a pledge of the net revenues of the combined utility system (the system). The junior lien water and sewer system revenue bonds are senior to the first lien revenue bonds and have a closed lien. Reflecting its first priority position in the flow of funds and its closed lien, these bonds are assigned a higher rating. The bank notes are secured by a third lien on net revenues of the system. The series 2017B bonds will not have a reserve fund. Purpose: To provide funds for and refund outstanding commercial paper issued for capital improvement program (CIP) projects and outstanding first lien revenue bonds for savings. Final Maturity: Nov. 15, 2047....
