Title
Approving a resolution with the caption reading:"Resolution authorizing the publication of Notice of Intention to Issue City of Pflugerville, Texas Combination Tax and Limited Revenue Certificates of Obligation, Series 2025, and other matters related thereto."
Summary
During the FY25 budget process, it was communicated that in order to support the Capital Improvement Plan, the City would have to issue additional bonds in FY25. This estimated bond issuance was included in the FY25 Debt Rate calculation. This Notice of Intention to Issue is a not to exceed amount of $142M ($83M being part of the general debt service fund and $59M utility fund). Some of the major projects being funded from this bond sale are listed below:
General Fund
Public Works Complex
East Pflugerville Parkway
Town Center Drive
East Pecan Street
Utility Fund
1849 Reclaimed Waterline
Water Treatment Plant expansion
Cottonwood Force Main and Interceptor
Prior City Council Action
Approval of FY25 Tax Rate September 24, 2024
Deadline for City Council Action
February 11, 2025 to meet bond issuance timeline
Funding Expected: Revenue __ Expenditure __ N/A _X_
Budgeted Item: Yes _X_ No __ N/A __
Amount: _______
1295 Form Required? Yes __ No _X_
Legal Review Required: N/A _X_ Required __ Date Completed: ___________
Supporting documents attached:
Resolution Notice of Intent
Recommended Action
Approve resolution as presented.