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Liberty Hill approves $24M+ wastewater revenue bonds after competitive bids; low bid at 4.099917%
Summary
Council authorized issuance of wastewater treatment facility revenue bonds (Series 2026) after receiving 10 bids; the low bid from TRB Capital Markets at about 4.099917% was recommended and the ordinance passed 6-0. S&P affirmed an A+ rating with a stable outlook.
The Liberty Hill City Council approved Ordinance 2026-O-001 to issue revenue bonds for the city's wastewater treatment facility after a competitive bidding process delivered 10 bids this morning.
Dan Wegmiller of Specialized Public Finance reported that bids ranged up to 4.32%, with TRB Capital Markets submitting the low bid at 4.099917%; Wegmiller recommended acceptance of the low bid. He also told council that Standard & Poor's affirmed an A+ rating with a stable outlook for the city's water and regional wastewater credit profiles.
Council members asked whether bid differences included non-rate terms; Wegmiller said all bidders used the same bid form and the ordinance establishes the terms, so the primary differentiator was interest rate. A motion to approve the ordinance (as amended to reflect the bid terms) passed 6-0.
The ordinance authorizes the issuance of revenue bonds payable from net revenues of the wastewater treatment facility and approves related documents; bond counsel and the city's financial advisor were present to address questions. Council did not discuss specifics of repayment beyond the bid summary presented and requested no further amendments.
