The Corpus Christi, Texas, City Council will decide Tuesday on a proposal for a $170 million utility revenue bond issue expected to provide $60 million of new money and to refund $110 million of outstanding junior-lien debt.

The new money will reimburse the coastal city for capital projects completed in fiscal 2012.

The refunding of $108.4 million of utility revenue bonds that were issued in 1999, 2002, 2004 and 2005 is expected to provide net present-value savings of $7.4 million, depending on market conditions.

Fulbright & Jaworski LLP is the city’s bond counsel.

M.E. Allison & Co. is the financial advisor.

Underwriters have not been selected.

Corpus Christi’s utility revenue debt is rated Aa3 by Moody’s Investors Service, A-plus by Standard & Poor’s and AA-minus by Fitch Ratings.

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