Posting Language
Title
Approve an ordinance authorizing the issuance and sale of City of Austin, Texas Public Improvement Bonds, Taxable Series 2026, in a par amount not to exceed $67,500,000 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. Funding: The Fiscal Year 2026-2027 debt service requirements and estimated annual administration fees for the paying agent/registrar for the proposed bond sale are included in the Fiscal Year 2026-2027 Operating Budget of the General Obligation Debt Service Fund.
Body
Lead Department
Austin Financial Services
Fiscal Note
The Fiscal Year 2026-2027 debt service requirements and estimated annual administration fees for the paying agent/registrar for the proposed bond sale are included in the Fiscal Year 2026-2027 Operating Budget of the General Obligation Debt Service Fund.
Prior Council Action:
Previous Reimbursement Resolutions approved by City Council:
Resolution 20110912-011
Resolution 20190910-006
Resolution 20210902-067
Resolution 20230420-008
For More Information:
Belinda Weaver, Treasurer, Austin Financial Services 512-974-7885.
Additional Backup Information:
Approval of this ordinance will authorize the issuance of up to $67,500,000 in City of Austin, Texas Public Improvement Bonds, Taxable Series 2026 to provide funding for:
Election
Year Description
New Money Amount
2006
Cultural Arts Facilities
$1,500,000
2018
Affordable Housing
$10,000,000
2018
Libraries, Museums, Cultural Arts Facilities
$1,000,000
2022
Affordable Housing
$55,000,000
The bonds are being issued to provide funding pursuant to 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 federal rules and st...
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