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Katy council authorizes up to $34.63 million in KDA contract revenue bonds to fund mobility projects
Summary
Council approved a resolution authorizing the Katy Development Authority to issue contract revenue bonds Series 2026 not to exceed $34,630,000 to fund several mobility projects; the financing will be repaid from metro sales tax revenues, not property tax.
The Katy City Council on Jan. 26 approved a resolution authorizing the issuance of Katy Development Authority (KDA) contract revenue bonds, Series 2026, in an amount not to exceed $34,630,000 and confirmed assignment of certain contract revenues, staff said. The KDA had approved the package on Jan. 20.
Council members described the…
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