Title
Conduct a public hearing regarding the Issuance of City of Pflugerville, Texas Combination Tax and Surplus Revenue Certificates of Obligation Series 2026B, and approving an Ordinance on first and final reading with the caption reading: Ordinance Authorizing the Issuance of City of Pflugerville, Texas Combination Tax and Surplus Revenue Certificates of Obligation, Series 2026B, in the Principal Amount of $27,180,000 to Fund Waterworks System Improvement Projects and Awarding the Sale of Such Certificates of Obligation to the Texas Water Development Board.
Summary
The City applied for funding assistance with the Texas Water Development Board (TWDB) during the 2024 application process. This funding was needed to finish the Water Treatment Plant expansion project.
Prior City Council Action
Approval to apply for financial participation with TWDB - August 13, 2024.
Approval Resolution for Notice if Intent to Issue - December 9, 2025.
Deadline for City Council Action
The loan is set to close on Feb. 24th and has deadlines for posting notice
Funding Expected: Revenue _X_ Expenditure ____
Budgeted Item: Yes _X_ No __ N/A __
Amount: $27,180,000
1295 Form Required? Yes __ No _X_
Legal Review Required: N/A _X_ Required __ Date Completed: ___________
Supporting documents attached:
Series 2026B Ordinance
Recommended Action
Approve resolution as presented.