Richardson — The city’s finance director presented the council with the planned schedule and composition for the Series 2025 debt issuance, describing roughly $91.4 million in combined borrowing to fund previously approved capital projects and equipment purchases.

Anita Cothern, the city’s director of finance, told council members the proposed issuance includes about $64 million in general obligation bonds (voter-approved) aimed primarily at rebuilding City Hall and renovating the library, approximately $21.7 million in certificates of obligation to finance fire, solid‑waste and water/sewer equipment (tax-exempt), and about $6 million in taxable debt for golf course facilities tied to a private-partner maintenance barn and bay.

Cothern described the anticipated schedule: council action on a notice of intent to issue certificates of obligation is planned for the February 24 meeting, required legal notices would run twice in The Dallas Morning News on consecutive Fridays, rating‑agency calls with Standard & Poor’s and Moody’s were noted for May 26, and the sale would occur in the morning of April 28 with ordinance approvals the same evening if the schedule holds.

Councilmembers asked clarifying questions about whether these were new projects or part of previously approved plans; Cothern reiterated that the issuance funds projects previously reviewed during budget preparation and not new spending decisions.

Why this matters: the debt will fund major capital projects—most notably City Hall and library work—and equipment purchases; issuance timing and market conditions will determine borrowing costs and the city’s debt service schedule.

Next steps: staff will return with the notice of intent and related ordinance language for council action on February 24 and proceed with the public notices and rating calls listed in the schedule.