Posting Language
Title
Approve an ordinance authorizing the issuance and sale of taxable City of Austin, Texas Public Improvement Bonds, Taxable Series 2025, in an amount not to exceed $85,000,000 to be used for affordable housing 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. Funding: The Fiscal Year 2026 debt service requirements and estimated annual administration fees for the paying agent/registrar for the proposed bond sale are included in the 2025-26 Proposed Operating Budget of the General Obligation Debt Service Fund.
De
Lead Department
Financial Services Department
Fiscal Note
The Fiscal Year 2026 debt service requirements and estimated annual administration fees for the paying agent/registrar for the proposed bond sale are included in the 2025-26 Proposed Operating Budget of the General Obligation Debt Service Fund.
Prior Council Action:
Reimbursement Resolutions approved by City Council:
Resolution 20210902-067
Resolution 20210902-068
Resolution 20230420-008
For More Information:
Belinda Weaver, Treasurer, 512-974-7885.
Additional Backup Information:
Approval of this ordinance will authorize the issuance of up to $85,000,000 in City of Austin, Texas Public Improvement Bonds, Taxable Series 2025 to provide funding for Affordable Housing in accordance with the following voter approved propositions in 2018 and 2022 and pursuant to reimbursement resolutions that were previously approved by Council in 2021 and 2020.
? 2018 Prop A - $10,000,000
? 2022 Prop A - $75,000,000
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. This action is required by IRS and U.S. Treasury rules and State law. The City generally submits reimbursement resolutions for Council consideration as a part of the annual budg...
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