Belton council approves roughly $17.1 million bond sale to fund wastewater, public safety and utility projects

Belton City Council on April 20 adopted an ordinance on first and final reading authorizing the sale of Belton, Texas Combination Tax and Limited Revenue Certificates of Obligation, Series 2025 to fund wastewater, public safety and utility projects.

City staff said the competitive sale raised roughly $17.1 million to cover the city’s share of planned projects; staff and the city’s financial advisor presented the sale results and recommended proceeding. "The bonds that we're gonna talk about tonight, after delaying a couple of times, they're gonna pay for some vital, utility projects," said Mike, city staff, as he introduced the financing and the projects it will support.

The certificates drew six competitive bids and the winning bidder was Raymond James at a 4.27% interest rate, financial adviser Jennifer Ritter of Specialized Public Finance told the council. The sale affirmed the city’s double-A credit rating and is callable beginning in 2033. If council approved the sale, staff said closing would occur May 21, when proceeds would be available.

Why it matters: City officials said the borrowing would allow Belton to move…