Highland Village reviews CIP, proposes $7 million certificates of obligation for road projects

The Highland Village City Council on June 24 received an update on the city’s capital improvement program for fiscal 2025–26 and a staff proposal to issue certificates of obligation for roughly $7 million around September 2025 to help fund reconstruction of Highland Shores Boulevard and Highland Village Road.

Staff said the city previously issued a 2021 bond package that included $8.8 million for streets and drainage and $6.4 million for park improvements. “We’ve issued 8,800,000,” a staff member told the council while summarizing the 2021 package and the status of related projects.

The staff member said engineering for the Highland Shores Boulevard and Highland Village Road reconstruction is complete and that Denton County has identified about $6.4 million in potential funding for those projects. Staff offered an opinion of probable cost of about $13.5 million for the two road projects together and proposed issuing certificates of obligation in the fall to provide the city’s share if county funding does not cover 50% of the cost.

Why it matters: the two road reconstructions are large capital projects that will affect local traffic patterns, sidewalks and drainage. The council’s debt strategy and the timing of bond or certificate issuances determine how the work is funded and the city’s…