Taylor council begins notice process for up to $15 million in certificates of obligation

Taylor City Council on April 24, 2025 adopted Resolution R25-08 to begin the statutory notice process for issuing combination tax and revenue certificates of obligation in an amount not to exceed $15,000,000.

The move starts a 45-day publication period required by state law before the council may finalize any borrowing; during that period residents may petition to require voter approval. The resolution sets a not-to-exceed cap and does not itself obligate the city to borrow the full amount.

Why this matters: the city staff said the proposed issuance would fund a mix of tax-supported capital projects and utility projects identified in the city's capital improvement planning, and staff emphasized the action tonight simply begins the process so council and the public can review project priorities before any sale.

Staff presentation and numbers Mr. Powers, a city staff member, summarized prior work the council received in October and January and said the resolution's not-to-exceed amount is intended to give staff and advisers…