Title
Approving a Resolution Directing the Publication of Notice of Intention to Issue City of Pflugerville, Texas, Combination Tax and Revenue Certificates of Obligation, and Other Matters Related Thereto.
Summary
This is the first step in the process of issuing debt to finance projects approved by the City Council. The proposed certificates of obligation will be used to fund the construction of street, park, and utility projects. By approving this resolution, the City is not bound to the issuance of bonds; however, if bonds are issued, the total amount cannot exceed $26,500,000, as stated in the attached resolution, prepared by Richard Donoghue, bond counsel. This amount includes all project and bond issuance costs.
The projects, outlined in the attached summary, include roadway, park and utility projects. Roadway projects include the construction of roadway for the remaining section of Pfluger Farm Lane (Phase B) and design and construction of the roadway and utility infrastructure associated with both Helios Way and Sun Light Near Way. A park project to construct a restroom facility and parking lot at Pfennig Pfields is included. Utility projects, as outlined in the attached summary, include: Pfennig Pump Station and Ground Storage, Pflugerville Parkway and Pfennig Lane Transmission Main extension and upgrade, Heatherwilde Elevated Storage Tank (design only), North Travis County Municipal Utility District (NTC MUD) Service Projects, Weiss Lane Transmission Main, South Weiss Lane Transmission Main, Downtown Pressure Zone Re-delineation, Sorento Wastewater Interceptor Phase 1, and Carmel Interceptor Phase 1.
Voters approved the issuance of $28 million for roadway projects and $25 million for parks projects in a November 2014 bond election. In conjuction with this issuance, the City will be issuing the first funding related to those projects in the form of general obligation (limited tax) bonds. The general obligation (limited tax) bonds of approxima...
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