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Council OKs up to $34.63 million in KDA metro contract revenue bonds to fund mobility projects
Summary
Council voted to authorize Katy Development Authority contract revenue bonds, series 2026, not to exceed $34,630,000, a package of projects council members said will fund mobility and complementary drainage work paid from metro sales tax proceeds.
The Katy City Council on Jan. 26 authorized the Katy Development Authority to issue contract revenue bonds, series 2026, in an amount not to exceed $34,630,000 and confirmed assignment of certain contract revenues, staff said.
City officials described the bond package as funding six projects — principally in Ward B — that will improve mobility, expand road capacity and allow coordinated drainage investments. Staff and council members said the debt will be repaid using metro sales tax revenues rather than property-tax increases.
A council speaker thanked KDA staff and said the aggregated package reflects previously planned investments; another council member noted that the package, combined with prior bond work, brings the city’s total infrastructure investment in recent years to nearly $75 million.
Council approved the resolution by voice vote. The meeting transcript does not record a roll-call tally. The KDA board had previously approved the issuance on Jan. 20, staff said.
Council members also asked whether particular sidewalk and trail connections are included in the packages; staff replied that some packages include sidewalks on both sides and that work will reach the historic square and other multimodal links.
Council members and staff said the bond authorization is intended to accelerate projects as growth increases in and around Katy.
