Hutto council approves Prairie Winds and Cottonwood PID assessment ordnances and issues bonds

Hutto City Council on April 16 approved levying special assessments and authorized bond issuances for two public improvement districts following staff presentations and public hearings that drew no speakers.

For the Prairie Winds Public Improvement District (Improvement Area 2), counsel from McCall, Parkhurst & Horton and the city’s financial advisor reported the assessment resolution and bond pricing were in order. Jim Sabonis, the city’s financial adviser, said the Prairie Winds bond pricing was efficient in current markets: "It priced at a 144 basis point over the triple a MMD," and the structure was described as appropriate for a 35‑year PID financing. The council adopted ordinance O‑2026‑010 approving assessments and then approved O‑2026‑011 authorizing the special assessment revenue bonds; both measures passed unanimously, 7–0.

Council took equivalent actions on the Cottonwood Creek PID (Improvement Area 3). Staff opened and closed the public hearing (no in‑person testimony) and the council approved the assessment ordinance O‑2026‑012 and the bond authorization O‑2026‑013 by unanimous vote. City staff said the Cottonwood transaction benefited from joint execution with the other PID sale and attractive investor demand.

What happens next: staff indicated bond closing logistics and associated documentation (indentures, purchase agreements and continuing disclosure) will be completed by counsel and staff; any community benefit fees associated with the bond issuances will be returned to staff for budgeting and possible amendment to the annual budget.