Title
Conduct a public hearing regarding the issuance of City of Pflugerville, Limited Tax Bonds, Series 2021 and consideration and action on first and final reading with respect to an ordinance with the caption reading: Ordinance authorizing the issuance of City of Pflugerville, Limited Tax Bonds, Series 2021; Authorizing the levy of an ad valorem tax in support of the bonds; approving an official statement, a purchase agreement and a paying agent/registrar agreement; and authorizing other matters related to the bonds.
Summary
November 3, 2020 voters approved three propositions totaling $191.1M. This bond sale is the first tranche of GO bonded debt for the 2020 Bond Program totaling $38M.
Amounts to be issued by proposition:
Prop A Transportation: $21,180,000
Prop B Parks: $14,040,000
Prop C Recreation & Senior Center: $2,780,000
Bonds authorized but not issued by proposition:
Prop A: $80,520,000
Prop B: $28,260,000
Prop C: $44,520,000
Deadline for City Council Action
August 24, 2021
Funding Expected: Revenue __ Expenditure __ N/A __
Budgeted Item: Yes _x_ No __ N/A __
Amount: _$38M_______
1295 Form Required? Yes x__ No __
Legal Review Required: N/A __ Required _x_ Date Completed: __08/05/2021_________
Supporting documents attached:
Ordinance, Preliminary Official Statement, Purchasing Agreement, Paying Agent/Registrar Agreement
Recommended Action
Staff recommends approval of ordinance to allow final same day pricing of bonds