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Denison Council authorizes bond‑sale documentation; resolution passes 4–1
Summary
The Denison City Council voted 4–1 to authorize use of a preliminary official statement for the sale of General Obligation Corporate Purpose Bonds, Series 2026 (Resolution #2026‑18), with Councilmember Miller casting the lone dissent and an edit made to Councilmember Zupp‑Smith’s term of office.
The Denison City Council on March 17 approved Resolution #2026‑18, authorizing the use of a preliminary official statement in advance of selling General Obligation Corporate Purpose Bonds, Series 2026. The motion passed on a 4–1 roll call vote after a brief procedural amendment to Councilmember Zupp‑Smith’s term of office.
Councilmember Zupp‑Smith moved to adopt the resolution; Councilmember Peterson seconded. The roll call showed ayes from Zupp‑Smith, Peterson, Crawford and Granzen, and a nay from Councilmember Miller. The meeting minutes record the council adopted the resolution with the stated change to Zupp‑Smith’s term.
City staff described the action as an authorization to proceed with bond‑sale documentation rather than a final sale or set bond amount. The resolution permits staff and bond counsel to prepare and distribute a preliminary official statement to underwriters and potential investors as part of routine debt issuance steps. Council did not set a sale date, principal amount, or interest terms during the recorded motion.
The council’s vote advances the procedural steps required to issue general obligation debt should the city elect to proceed; additional council actions will be necessary before any bonds are priced or sold.
