Austin officials outline $358.1 million expected 2025 general-obligation bond sale; closing targeted Oct. 2

City Treasurer Belinda Weaver told the Bond Oversight Commission on a June staff briefing that the city expects to issue roughly $358,100,000 in public-improvement general-obligation (GO) bonds in the 2025 sale and will seek a council ordinance to set sale parameters on the July 24 council agenda.

Weaver said the city has $1.895 billion in outstanding GO debt backed by ad valorem property taxes and that the FY2025 property tax rate was 47.76 cents per $100 of assessed value, of which 9.61 cents pays debt service and 38.15 cents covers operations and maintenance. "The city's property tax rate is comprised of two portions. It's the operations and maintenance portion, and the debt service portion," Weaver said.

The presentation explained the three GO debt types Austin issues: voter-authorized public-improvement bonds (20-year term), certificates of obligation for nonmovable capital like buildings (20-year term, not voter…