City Council Meeting Date: April 21, 2026
Date: April 3, 2026
To: Erin Rinehart, City Manager
From: Diana K. Vaughn, CFO
Chrystal Davis, Assistant City Manager
Title
Consider An Ordinance of the City Council of the City of Carrollton, Texas, Authorizing the Issuance of “City of Carrollton, Texas, General Obligation Bonds, Series 2026”; Levying a Continuing Direct Annual Ad Valorem Tax for the Payment of Said Bonds; Resolving Other Matters Incident and Related to the Issuance, Sale, Payment, and Delivery of Said Bonds; Establishing Procedures for the Sale and Delivery of the Bonds; Delegating Matters Relating to the Sale and Issuance of the Bonds to Authorized City Representatives; and Providing for an Effective Date.
Body
Background:
The City plans to issue General Obligation Bonds, Series 2026 (the “Bonds”) the week of May 18th via competitive sale. The Bonds will fund approximately $33,250,000 of capital projects approved by voters at the November 2022 election and cover associated issuance costs. Funds are estimated to be allocated for street improvements in the amount of $24,700,000; public safety facilities improvements in the amount of $7,800,000; and animal shelter facilities improvements in the amount of $750,000. The estimated cost of issuing the Bonds is approximately $450,000. The ordinance authorizes the sale of up to $33,500,000 in bonds depending on market conditions.
Financial Implications:
Issuing the Bonds will support the continuation of the City’s capital improvement program. The Bonds are payable from ad valorem taxes and will be issued on a tax-exempt basis, making them subject to federal arbitrage laws. All issuance costs will be paid from the Bond proceeds.
Impact on Community Sustainability:
This bond issuance supports and aligns with the City Council’s goals and objectives to properly manage infrastructure with fiduciary care and improves the City’s financial position and sustainability.
Staff Recommendation/Action Desired:
Consider An Ordinance of the City Council of the City of Carrollton, Texas, Authorizing the Issuance of “City of Carrollton, Texas, General Obligation Bonds, Series 2026”; Levying a Continuing Direct Annual Ad Valorem Tax for the Payment of Said Bonds; Resolving Other Matters Incident and Related to the Issuance, Sale, Payment, and Delivery of Said Bonds; Establishing Procedures for the Sale and Delivery of the Bonds; Delegating Matters Relating to the Sale and Issuance of the Bonds to Authorized City Representatives; and Providing for an Effective Date.