The Waxahachie City Council voted Monday to authorize the issuance of $22.2 million in combination tax-and-revenue certificates of obligation to fund projects in the city’s capital improvement plan, covering streets, parks, public safety and wastewater work.
Chad, a city staff member, told the council the total bond issuance would be used for a range of capital projects: “The total bond issuance is $22,200,000 and it consists of streets, parks, public safety, and wastewater projects.” He said the projects would be funded through the ad valorem tax rate and wastewater utility fees and that staff anticipated taking the certificates to market within about two weeks so funds would be available in September.
Council approved the ordinance on the record and delegated procedural authority for sale and delivery to staff per the ordinance’s language. The package, as amended in a separate recorded motion, reallocated $1.9 million previously identified for a mobile command center to an expanded animal services center; council asked staff to return with specific project plans for any spending before construction-phase commitments.
The council separately set the process to record votes related to tax-rate decisions and scheduled hearings for the fiscal-year budget and tax rate. City staff said debt-service implications will be incorporated in future budget and tax-rate deliberations.
The ordinance’s final procedural language delegates sale timing, pricing and closing details to city staff and bond counsel; staff said sale timing was planned so proceeds would coincide with project schedules in September.