Mustang Ridge council approves Durango PID assessment process, authorizes bond offering materials

The Mustang Ridge City Council voted to advance financing steps for the Durango Public Improvement District on March 10, approving two resolutions that set the assessment process in motion and authorize bond offering materials. Councilmember Casondra Dailey moved to approve Resolution No. 25-256 to determine costs for improvements to be financed through the Durango PID, approve a preliminary amended and restated service and assessment plan with updated rolls for Improvement Areas #1 and #2, and direct staff to file the proposed assessment rolls for public inspection. The motion passed 4–0.

Dailey also moved to approve Resolution No. 25-257, which the minutes describe as approving "the form and authorizing the distribution of a Preliminary Limited Offering Memorandum for City of Mustang Ridge, Texas Special Assessment Revenue Bonds, Series 2025 (Durango Public Improvement District Improvement Area #2 Project)." Gabriel Vallejo seconded and the motion carried 4–0. The council directed staff to publish and mail notice of a public hearing set for April 14, 2025 to consider an ordinance levying assessments on property in Improvement Area #2.

Council minutes do not record bond sizing, interest-rate assumptions or the proposed assessments by parcel; the resolutions in the record authorize staff to make the rolls available for public inspection and to proceed with public notice. A public hearing is scheduled April 14, 2025 to allow property owners and other stakeholders to comment before any ordinance levying assessments is considered.