Item 9 Passed 9-0
In plain language — from the agenda backup
The Council is greenlighting an Official Notice of Intention to issue $156,265,000 in Certificates of Obligation — a form of city debt — to bankroll a long list of public projects, from fire and EMS stations and a family violence shelter to bridges, dams, street and road work, park upgrades, and Waller Creek District improvements. This is the procedural first step that lets the city advertise and eventually sell the bonds. Advertising the sale runs an estimated $3,000, and the resulting debt service is currently pegged at about $12,538,250, to be folded into the FY 2026-2027 proposed budget.
The official agenda language
Approve a resolution directing the publication of an Official Notice of Intention to Issue $156,265,000 City of Austin, Texas, Certificates of Obligation, Series 2026 in one or more series related to fire and emergency medical service stations, administrative office buildings, a family violence shelter, bridges and dams, public safety facilities, park improvements, street and road improvements, and Waller Creek District improvements. Funding: The fee to advertise the sale will be included in the upcoming bond sale’s cost of issuance and is estimated at $3,000. Debt service resulting from the actual sale of the Certificates of Obligation will be included in the Fiscal Year 2026-2027 Proposed Operating Budget of the General Obligation Debt Service Fund and is currently estimated at $12,538,250.
What got said
- Jeffrey Bowen questioned deferred maintenance backlog and project delays
The roll call
Approved on Consent 9-0
- Kirk Watson Mayor Yes
- Natasha Harper-Madison D1 Absent
- Vanessa Fuentes D2 Absent
- José Velásquez D3 Yes
- José "Chito" Vela D4 Yes
- Ryan Alter D5 Yes
- Krista Laine D6 Yes
- Mike Siegel D7 Yes
- Paige Ellis D8 Yes
- Zohaib "Zo" Qadri D9 Yes
- Marc Duchen D10 Yes