Posting Language
Title
Approve a resolution authorizing the issuance by Moore’s Crossing Municipal Utility District of Unlimited Tax Bonds, Series 2026, in an amount not to exceed $7,600,000 to be used for water distribution, wastewater collection, and drainage facilities in the district and costs of issuing the bonds. Funding: This item has no fiscal impact.
Body
Lead Department
Austin Financial Services
Fiscal Note
This item has no fiscal impact.
For More Information:
Belinda Weaver, City Treasurer, 512-974-7885, Virginia Collier, Program Manager III, 512-972-0117, Kate Castles, Principal Planner, 512-974-2709
Council Committee, Boards and Commission Action:
October 14, 2026 - To be reviewed by the Water and Wastewater Commission.
Additional Backup Information:
The City and the Moore’s Crossing Municipal Utility District entered into an agreement creating Moore’s Crossing Municipal Utility District on March 13, 1986. The District was created by the Texas Water Commission, predecessor to the Texas Commission on Environmental Quality, on June 17, 1987. The District consists of approximately 818 acres located in Travis County, approximately eight miles south-southeast of Austin's central business district, and is situated approximately 1.5 miles south of Austin-Bergstrom International Airport. The District is located southeast of the intersection of Farm-to-Market 973 and Elroy Road, and traverses eastward across State Highway 130.
The District is required to obtain City approval for all bond sales pursuant to the Consent Agreement. The City has received a request from the District to approve the District’s bond sale in the amount of $7.6 million consistent with a bond proposition approved by District voters in 1987. The total amount of bonds authorized for the District is $32 million in unlimited tax bonds. After the proposed bond issue, $11.98 million in unlimited tax bonds will remain authorized but unissued. The proceeds of the Bonds will be used to finance the water distribution, wastewater collection, and drainage facilities serving Stoney Ridge Highlands Phase 1. The remaining Bond proceeds will be used to:
• Capitalize approximately 12 months interest requirements on the Bonds;
• Pay developer interest; and
• Pay other costs associated with the issuance of the Bonds.
City staff from Austin Water, Austin Parks and Recreation, Austin Planning, Austin Energy, Austin Development Services, Austin Housing, Austin Transportation and Public Works, and Austin Watershed Protection reviewed the District’s Consent Agreement and its amendments. The District was found to be in substantial compliance with the terms of the Consent Agreement and will address unresolved concerns with a future amendment to the Consent Agreement. Austin Financial Services and the City’s Financial Advisor have reviewed the District’s proposed bond sale and recommend approval.