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Council tables adoption of Certificates of Obligation ordinances until attorney general review
Summary
Council moved to table three ordinances authorizing the issuance of Certificates of Obligation (Series 2025 A, B and C) after staff said the city had not yet received final approval from the Texas Attorney General and bond markets were closed for President's Day.
City finance staff told the council Monday that notices of intent to issue Certificates of Obligation for Series 2025 A, B and C had been approved by the council on Nov. 18, 2024 and published as required, but that the city had not received final approval from the Texas Attorney General and that bond markets were closed for President's Day.
Because of those timing issues, staff asked the council to table adoption of the three ordinances authorizing issuance until a future meeting pending the Attorney General's approval. Miss Aucelbach (as named in the transcript) answered questions from council members and confirmed the delay was linked to the AG approval and market timing.
Mayor Pro Tem Adams moved to table items 5A, 5B and 5C to a future meeting; Councilman Thorne seconded. The motion passed on a voice vote. No adoption or sale occurred Monday; staff will return with the ordinances after AG approval and when market conditions allow.
