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Amarillo council approves series of bond measures to fund water lines, fleet and parks projects
Summary
The City Council approved multiple financing actions Dec. 9 including a water and sewer revenue bond, combination tax-and-revenue certificates for fleet and PID park amenities, and a reimbursement resolution to finance new fire apparatus, with staff emphasizing favorable market demand and a AAA credit profile.
The Amarillo City Council on Dec. 9 voted to move forward with a package of debt issuances aimed at financing water main extensions, fleet replacements and park amenities while preserving the city’s credit strength.
Council adopted an ordinance to authorize issuance of combination tax-and-revenue certificates of obligation (Series 2026) that staff said will fund fleet replacements and PID park purchases. Financial advisors reported robust market interest and recommended awarding the bonds after receiving a competitive set of bids that produced a rate near 3.12% on one sale. The motion…
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