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Amarillo council votes to advertise up to $17 million in certificates of obligation for parks and fleet projects
Summary
After detailed discussion of park lighting, parking, gazebo renovation, golf-course pumps and heavy equipment, council voted to advertise a not-to-exceed $17 million certificate of obligation and set an April 8 competitive sale date. Staff said the plan would use existing parks allocations and not raise taxes.
The Amarillo City Council voted to adopt a resolution to advertise a not-to-exceed $17 million certificate of obligation to fund parks projects and heavy equipment for city fleets, after an extended staff presentation and council discussion about scope, costs and timing.
Parks Director Michael Kashuba presented a menu of proposed projects for debt funding, including permanent lighting projects at Thompson, John Stiff and Memorial parks; construction of three parking lots to address weekend-event parking demand; renovation and structural repairs to the Memorial Park ‘‘gazebo’’ (a 1,500-square-foot facility with an occupied basement); replacement of pump stations at four municipal golf courses; and smaller equipment such as hydrovac and mini-excavator units. Kashuba said the department intends to use a mix of debt and cash, noting the parks program has an existing annual allocation of about $2 million that staff proposes to partially redirect toward debt service.
Donnie Hooper presented an equipment list for the fleet (31 heavy units estimated at about $3.86 million earlier in the presentation) and explained the broader fleet backlog — an estimated $19 million need to bring rolling stock fully up to date — and urged council to consider a package approach that pairs leasing, selective debt issuance and equipment purchases. Hooper argued many units are past useful life and that salvage value on retired trucks is minimal.
City financial advisers (Stephen Adams) explained debt-service profiles for different project life spans and said the combined issuance could begin with about $1.7 million in annual debt service on the short-lived items, tapering in later years as projects age. Staff emphasized this notice is an initial step required by state law (two-week newspaper posting and website notice); council must still agree on the final amount and any specific construction contracts before the April 8 competitive sale and vote.
Council members pressed staff for clearer, line-item estimates, with several members asking staff to separate the Memorial Park gazebo until more precise pricing is available and to return with refined line items at the next meeting. Staff agreed to follow up and said if bids come in lower the city can reduce the issuance amount. The resolution to advertise was adopted by council vote; the competitive sale was scheduled for April 8 and staff will present final issuance numbers then.
Key financial figures discussed: a $17 million not-to-exceed advertisement cap, an existing parks allocation of about $2 million per year that staff proposed to use in part for debt service, an equipment estimate of roughly $3.86 million for 31 heavy units and a broader fleet replacement need estimated at approximately $19 million. Council directed staff to return with more detailed estimates for the gazebo and other items before the April 8 sale.
