The City of Bellaire approved an ordinance Oct. 20, 2025, authorizing the issuance of $6,000,000 in general obligation bonds (series 2025) to finance capital drainage projects. The sale was conducted competitively earlier the same day and drew five bids. City financial advisor James Gilley of US Capital Advisors reported that Fidelity Capital Markets offered the winning bid with a true interest cost of 4.069999 percent.

Gilley said Fidelity purchased the issue at a premium; the par amount shown in the bid documentation is $5,935,000 while the city will receive proceeds of approximately $6,000,000 at closing, expected on or about Nov. 20, 2025. Gilley said the competitive turnout (seven underwriters registered and five submitted bids) produced a favorable result for the city.

Terrence Beeman, Bellaire’s CFO, said proceeds will support capital drainage work. Councilmember Ross Gordon asked for context on prior sales; Gilley said a similar bond tranche sold in February produced a comparable interest cost just under 4 percent.

Council moved to amend the ordinance to insert the winning bidder and bid details and then voted to approve the ordinance and award the sale. The motion carried unanimously.