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Anna approves Liberty Hills PID financing steps; advisor says $18.8M bonds, ~5.59% interest
Summary
Council approved the assessment plan and moved to authorize special assessment revenue bonds tied to Liberty Hills PID improvement area No.1; the city’s financial advisor reported a final bond amount of about $18.8 million and an average assessment lien figure shared during the meeting.
The Anna City Council advanced several actions tied to the Liberty Hills Public Improvement District (PID): it held a public hearing on assessments, approved an assessment plan, and authorized staff to proceed with issuing special assessment revenue bonds for the project. The finance presentation to council identified the final bond figure and estimated homeowner impacts.
The city's financial advisor reported the final bond amount would be approximately $18,800,000 with a fixed interest rate of 5.59% over 30 years. "The final amount of those bonds is going to be $18,800,000. The interest rate was 5.59%," the advisor said. He also stated an average assessment lien figure ("77,000") as a total lien on affected parcels over the 30-year period, and staff later explained that after TIRZ adjustments the annual net assessment would be about $4,700 per house over 30 years. Council voted unanimously on the motion to proceed with the financing steps.
Council discussion focused on homeowner assessment impacts and TIRZ adjustments intended to offset some PID costs. Staff indicated bond documents and sale authorization would be finalized as part of the normal issuance process. The council’s actions authorize continuing steps in the financing timeline; residents in affected subdivisions will receive notices and assessment details as the sale and lien process proceed.
