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Council approves ~ $6.7M certificates of obligation for streets and new fire apparatus
Summary
On first and final reading the council approved Ordinance 26-30 to issue about $6.7 million in certificates of obligation, with roughly $1 million earmarked for a fire apparatus and the balance for street and drainage work (Pipeline Road, Harwood Road).
The Hurst City Council adopted Ordinance 26-30 authorizing the issuance of tax and waterworks and sewer system limited-pledge revenue certificates of obligation, series 2026, to fund capital improvements.
A staff member told the council the package would fund identified street projects and a previously ordered fire apparatus. “About just under $6,700,000 in bonds. Dollars 1,000,000 would be for the fire apparatus and the balance would be to invest in our street and drainage infrastructure,” the staff member said, citing Pipeline Road and a mill-and-overlay on Harwood Road as examples.
Council members moved to adopt the ordinance on first and final reading; the motion was seconded and carried. Staff indicated the issuance is sized to address capital needs while trying to keep debt service flat year over year by pairing new money with retiring obligations.
The action authorizes staff to proceed with sale and issuance under the ordinance’s terms; the council did not debate alternative funding sources at the meeting.
