Posting Language
Title
Approve an ordinance authorizing the issuance of City of Austin, Texas Special Assessment Revenue Bonds, Series 2024 (Whisper Valley Public Improvement District Improvement Area #3) in an amount not to exceed $11,990,000 to reimburse the owner and/or the developer of the district for the construction of water, wastewater and road infrastructure, fund a debt service reserve fund, and pay costs related to issuing the bonds; and authorizing all related documents and fees. Funding: No ad valorem taxes or other revenue of the City will be pledged to the payment of the bonds.
Body
Lead Department
Financial Services Department
Fiscal Note
The bonds will be paid from special assessments levied on the property within Improvement Area #3 of the Whisper Valley Public Improvement District. No ad valorem taxes or other revenue of the City will be pledged to the payment of the bonds.
Prior Council Action:
August 26, 2010 - Council approved a resolution authorizing the creation of a Public Improvement District for the Whisper Valley area. Council approved an ordinance annexing the Whisper Valley annexation area for limited purposes of planning and zoning.
November 3, 2011 - Council approved an ordinance accepting and approving a Service and Assessment Plan and Assessment Roll. Council approved an ordinance authorizing the issuance of City of Austin Texas Special Assessment Revenue Bonds, Senior Series 2011 (Whisper Valley Public Improvement District), in an amount not to exceed $16,500,000 and approved an ordinance authorizing the issuance of City of Austin, Texas Special Assessment Revenue Bonds, Subordinate Series 2011 (Whisper Valley Improvement District), in an amount not to exceed $18,800,000.
June 28, 2018 - Council approved a resolution adopting the 2019 Annual Service and Assessment Plan Update (as it relates to the Master Improvement Area) and the Preliminary 2018 Addendum to the Service and Assessment Plan (as it relates to the Improvement...
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