Posting Language
Title
Approve an ordinance authorizing the issuance and sale of City of Austin, Texas Public Improvement and Refunding Bonds, Series 2023, in a par amount not to exceed $296,295,000 in accordance with the parameters set out in the ordinance, authorizing related documents, and approving the payment of the costs of issuance and all related fees, and providing that the issuance and sale be accomplished by March 1, 2024.
De
Lead Department
Financial Services Department.
Fiscal Note
The Fiscal Year 2023-24 debt service requirements and estimated annual administration fees for the paying agent/registrar for the proposed bond sale are included in the 2023-24 Proposed Operating Budget of the General Obligation Debt Service Fund.
Prior Council Action:
Reimbursement Resolutions approved by City Council on September 8, 2015, March 22, 2018, September 11, 2018, September 10, 2019, August 27, 2020, and March 4, 2021.
For More Information:
Belinda Weaver, Treasurer, 512-974-7885.
Additional Backup Information:
Approval of this ordinance will authorize the issuance of up to $296,295,000 in City of Austin Public Improvement and Refunding Bonds, Series 2023, consisting of up to $170,500,000 in new money bonds to provide funding for:
Election Year
Description
New Money Amount
2012
Transportation/Mobility
$5,000,000
2016
Transportation
$80,000,000
2018
Flood Mitigation, Open Space, Water Quality Protection
$6,500,000
2018
Parks and Recreation
$15,000,000
2018
Library and Cultural Arts
$8,000,000
2018
Transportation
$30,000,000
2018
Public Safety
$1,000,000
2020
Transportation
$25,000,000
$170,500,000
The $170,500,000 in new money bonds is being issued to provide funding for reimbursement resolutions that were previously approved by Council. Reimbursement resolutions declare an issuer's official intent to reimburse a project's expenditure with the proceeds of obligations to be issued after the expenditure may have occurred. The action is required by I...
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