Title
Conduct a public hearing regarding the Issuance of City of Pflugerville, Texas Combination Tax and Limited Revenue Certificates of Obligation Series 2026C, 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 Limited Revenue Certificates of Obligation, Series 2026C; Levying An Ad Valorem Tax and Pledging Certain Net revenues in Support of the Certificates; Approving an Official Statement, a Purchase Agreement and Other Agreements; Establishing Procedures for Selling and Delivering the Certificates and Authorizing Other Matters Related to the certificates.
Summary
This Ordinance is the official action of the City Council authorizing the issuance of the Certificates of Obligation (COs) as long as the final terms of the COs fall within the parameters established by the Ordinance. The Ordinance delegates the authority to the City Manager and the Assistant City Manager to set the final terms of the COs as long as they: (i) have a principal amount that does not exceed $42,000,000; and (ii) mature no later than August 1, 2055. This sales is occurring on March 24, 2026 and final terms will be available at the council meeting.
The current amount the City is seeking in funds is $42M for completion of the Public Works Complex. This debt will be secured by the Utility Fund.
This item is supported by the Infrastructure and Services pillars of the Strategic Plan.
Prior City Council Action
January 27, 2026: City Council authorized a Notice of Intent (NOI) to issue Certificates of Obligation for an amount up to $42M
Deadline for City Council Action
March 24, 2026 to align with the day of pricing
Funding Expected: Revenue _X_ Expenditure __ N/A __
Budget Source:
Budgeted Item: Yes _X_ No __ N/A __
Amount: $42M
1295 Form Required? Yes __ No _X_
Legal Review Required: N/A __ Required _X_ Date Completed: Prepared by MPH Bond Counsel and received 3/...
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