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Council approves special assessment bonds and amends reimbursement cap for Val Verde public improvement district
Summary
Bastrop approved formation steps, bond authorization and voted to raise the Val Verde PID reimbursement cap to account for issuance delays and costs.
The City Council completed statutorily required steps April 8 to authorize special‑assessment bonds for the Val Verde Public Improvement District (PID). Council adopted the ordinances establishing the assessments and authorized bond issuance for Improvement Area No. 1.
Council approved both the ordinance apportioning special assessments and a companion ordinance authorizing the sale of special assessment revenue bonds. In a follow‑up…
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