DALLAS –Brownsville, Tex., will refund $114.5 million of revenue bonds as it lays the groundwork for a natural gas pipeline system connecting the city to a proposed investor-owned power plant.

The negotiated deal is expected to price in early April. Estrada Hinojosa & Co. serves as financial advisor. The bonds will refund a 2005 issue, with savings used to replace an Ambac insurance policy with a cash-funded debt reserve.

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