Austin Conducts Internet-only Bond Sale.

• Position: Texas' first all-Internet competitive bond sale - Brief Article - Statistical Data Included

Austin, Texas, drew praise for its debt auction in the state's first all-Internet competitive bond sale. The all-Internet auction brought in more preliminary bids than ever before, and it received bid offers from firms that had previously never bid on Austin's bonds. Austin's sale included $51.1 million of public improvement bonds and $5.59 million of certificates of obligation. In auctions held in 1992 and 1994, the city received 29 preliminary bids and 21 actual bids, but during this September's Internet auction, they received 34 preliminary bids and 26 actual...