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College Station council approves notice to issue roughly $35 million in bonds and certificates
Summary
City Council approved publication of a notice of intent to issue up to about $35 million in debt to fund voter-approved capital projects, radios and water-well work; staff said the sale process will include rating-agency review and a parameters ordinance in July.
College Station City Council voted unanimously May 22 to authorize the city to publish a notice of intent to issue certificates of obligation and general obligation bonds for capital projects and equipment.
The action starts a 45-day process that allows the city to sell debt to fund projects identified in the FY25 capital plan. “This is the first step in the process to issue what is our annual bonds,” City staff member Mary Ellen Leonard said in a presentation to council.
Leonard told the council the city is proposing to issue $17 million in voter-approved general obligation bonds (the bulk of which — about $13.5 million — would fund construction of Fire Station 7) and about $18.25 million in certificates of obligation for city…
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