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Council approves notice of intent for up to $30 million certificates of obligation for water and wastewater projects
Summary
The council adopted Resolution 2025-16 authorizing publication of a notice of intent to issue up to $30 million in certificates of obligation for water and wastewater system improvements, a first step that does not obligate issuance.
Tomball City Council on April 21 adopted Resolution 2025-16, approving a notice of intent to issue certificates of obligation (COs) series 2025 with a not-to-exceed amount of $30,000,000 to fund designated water and wastewater system projects.
Finance staff (Jessica) described the notice of intent as the initial administrative step required to begin a CO issuance. The resolution authorizes publishing the notice in a local newspaper and on the city website within 45 days and establishes a cap on the amount that may be issued; it does not itself issue debt or obligate the city to borrow. Staff provided a projected timeline: work with financial advisor and bond counsel, complete due diligence, rating agency calls, presentation for authorization on June 16, and estimated closing in July. The planned uses of proceeds include improvements tied to the East Water Plant and the South Wastewater Treatment Plant projects, consistent with the capital improvement presentation the council reviewed previously.
A council member thanked the mayor for a recent letter to the state legislature defending municipal finance authority; staff and the city’s financial-advisory team attended the meeting and were available for questions. After brief discussion the council voted unanimously to adopt the resolution.
