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Council approves preliminary Prairie Winds PID offering document; bond sale planned next week
Summary
Council approved distribution of a preliminary limited offering memorandum for Prairie Winds PID Area No. 2, clearing the way to distribute the document and proceed toward a bond sale scheduled for the following week; bond counsel said no bonds are being approved tonight.
The council approved the form of a preliminary limited offering memorandum for the Prairie Winds Public Improvement District (PID) Area No. 2 and authorized distribution of the document. Bart Fowler of McCall, Parkhurst & Horton (bond counsel, voice 12) told the council the memorandum is scheduled to be distributed the next day and that the bond sale is planned for the following Thursday. "This one is approved in preliminary limited offering memorandum. It will be distributed tomorrow, pending any corrections need to be made," Fowler said.
Finance Director Alberta Barrett (voice 5) introduced the item and staff noted a minor correction to the document (a 2026 date and a title correction for Mayor Pro Tem Thornton) that council included in the motion. Fowler reiterated that tonight’s action does not approve bonds — the sale would come back to council at the next meeting for formal approval. The motion to approve the offering document with the identified corrections passed unanimously.
