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Council advances PID plans and authorizes preliminary bond offering distribution
Summary
Council approved resolutions setting public hearings for the Caddo Mills Crossing and Enclave of Bahamas Public Improvement Districts and authorized distribution of a Preliminary Limited Offering Memorandum to market bonds for the Enclave of Bahamas PID ahead of a July vote.
Caddo Mills council approved multiple resolutions advancing Public Improvement District work at its June 10 meeting. P3 Works representative Jamie Schulte briefed council on the Caddo Mills Crossing PID and the Enclave of Bahamas PID, asking the council to set public hearings for July and, for the Enclave of Bahamas, to authorize distribution of a Preliminary Limited Offering Memorandum so bonds could be marketed prior to final council action.
Schulte said the Enclave of Bahamas item was in Phase 1 and that "they were seeking bonds for this project, so there would be an assessment ordinance and a bond ordinance for their consideration on the July agenda." Council unanimously approved the resolutions and authorized distribution of the offering memorandum; staff will publish and mail hearing notices and file the proposed assessment roll for public inspection as directed.
