Napa City Council approves $1.78M bonds for municipal projects and fire station design

Navasota City Council has taken significant steps to enhance local infrastructure and services following their recent meeting on April 2, 2025. The council unanimously approved Ordinance 10 69-25, which includes amendments to a previous referendum, marking a pivotal moment in the city’s legislative agenda.

In a key financial move, the council also adopted Ordinance 10 70-25, authorizing the issuance and sale of combination tax and limited surplus revenue certificates of obligation. This decision allows the city to raise up to $1,785,000 to fund critical projects, including renovations to the Navasota Municipal Pool, the design and engineering of a new fire station, and the replacement of the public library roof.

James Gilley from US Capital Advisors, the city's financial adviser, reported on a successful competitive bond sale that took place earlier that day. The city received eight bids from underwriters across five states, with the best offer coming from Raymond James and Associates at a true interest cost of 4.18%. Gilley emphasized the competitive nature of the sale, which resulted in favorable pricing for the city.

The council's approval of these ordinances is expected to provide essential funding for community improvements, with the transaction set to close on April 24, 2025. This proactive approach reflects the city’s commitment to enhancing public services and infrastructure, ensuring that Navasota continues to grow and meet the needs of its residents.