Keene council authorizes notice to issue $355,000 certificates for water system work; leaves cash option open

The Keene City Council on April 15 voted unanimously to publish notice of intent to issue $355,000 in combination tax and surplus revenue certificates of obligation to fund water system improvements, a preliminary step necessary to keep options open while the city awaits final direction from the Texas Water Development Board (TWDB).

Council adopted Resolution No. 2025-469 directing publication of the notice of intent; the action does not itself issue debt. "Doing the notice now just says you still can go forward under what has been approved and we have time to seek alternatives," Jim Sabonis, a Hilltop Securities representative who arrived late to the meeting, told the council. Sabonis and city advisors said publishing notice preserves the city’s ability to issue the certificates if needed while staff pursues whether the TWDB will permit the city to meet the TWDB condition with cash rather than taking a…