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Council hears update on 2021 and 2025 bond projects and upcoming FY2026–27 CIP schedule
Summary
Staff presented a status update on bond-funded street, drainage and park projects tied to the 2021 and 2025 issuances, estimated totals for park work, outstanding commitments and a schedule of upcoming budget workshops and hearings.
City Manager Mr. Stevens summarized the capital-improvement program and outstanding debt before the council on June 23. He said the 2021 bond issuance totaled $15 million with a portion used for street and drainage work; the city later issued certificates of obligation in 2025 to fund construction shares where Denton County will cover 50% of Highland Shores Boulevard work under an interlocal agreement.
Staff reported completed phases on various reconstruction and overlay projects and listed pending work: Oak Street, Ferndale, Gale Cedar and Meadowwood; Highland Shores Boulevard was described as ready to bid later in the year and Highland Village Road expected to bid in early fiscal 2027 subject to fund timing. Park projects from the 2025 bond were summarized as an original package estimated at $7.6 million, of which $6.4 million is bond-funded; staff said about $2 million had been committed so far and that $180,000 in engineering charges would be reimbursed to the utility fund.
The city also noted prior 2024 tax-note issuance of $2.7 million and described a future 2028 bond consideration for roughly $10.1 million covering streets, drainage and facility assessments; staff explained the city's debt policy target of maintaining 12–16% of the property-tax rate dedicated to debt service. Council scheduled budget review dates: July 14 (general fund), July 28 (special revenue funds and 4B budget), Aug. 11 (utility fund and tax-rate consideration) and September public hearings for the tax budget and rate adoption.
