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McKinney financial staff says $30 million for airport eastside infrastructure closed; additional bond sales planned
Summary
City finance staff reported that $30 million in short-term sales tax revenue bonds for the McKinney National Airport eastside infrastructure project have closed and that further sales for related land and infrastructure, general obligation and water/wastewater financings are scheduled this spring and summer.
Mark Holloway, the city of McKinney’s chief financial officer, told the City Council on April 22 that the financing for the McKinney National Airport eastside infrastructure project is in place and that additional related financings are scheduled this year.
Holloway said the airport financing used short-duration sales tax revenue bonds with a call feature because the city expects to replace those notes with a long-term TIFIA loan from the federal government, with approval anticipated in 2026. "That financing is closed. Dollars 30,000,000 have been received," Holloway said.
Holloway also reported Economic Development Corporation financing tied to airport work and land…
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