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Commerce council approves wide notice of intent to issue certificates of obligation as state debt rules loom
Summary
The Commerce City Council voted to publish a notice of intent that would allow the city to issue certificates of obligation covering multiyear capital projects, including an estimated $8 million wastewater upgrade and downtown streetscape work.
The Commerce City Council voted to publish a notice of intent that would allow the city to issue certificates of obligation covering multiyear capital projects, including an estimated $8 million wastewater upgrade and downtown streetscape work, citing pending Texas legislation that could limit municipalities’ debt options.
City staff told the council the move is a precaution: if the Legislature narrows or eliminates certificates of obligation or other short‑term debt tools effective Sept. 1, the city might be unable to complete projects already started without costly alternatives or voter elections. Assistant City Manager of Financial Services Molly Campbell and financial advisers outlined two scenarios and the likely short‑term cost to taxpayers and ratepayers before the council approved the broader notice known in…
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