The City Council authorized at its Feb. 27 meeting the publication of public notices stating the intention to issue 2023 General Obligation (G.O.) Bonds and Certificates of Obligation (C.O.) Plans call for a total sale of $101.5 million this year, with $47.9 million issued in G.O. Bonds for Year 2 of the 2021 Bond Program and $53.6 million in Certificates of Obligation that help fund the City’s Capital Improvement Plan, vehicles and equipment.
The proposed $47.9 million in G.O. bonds includes $29.2 million for street improvements, $10.7 million for municipal public buildings, $4.5 million for parks, $3.0 million for sidewalks and $500,000 for drainage projects.
The bulk of the $53.6 million in Certificates of Obligation expected to be issued will fund a new public safety radio system, water and sewer projects, and renovations to Sherrill Park Golf Course and the Library; the remaining funds will be used for solid waste equipment and fire equipment.
After issuing public notices and meeting with rating agencies (Moody’s and Standard and Poor’s), City staff will present the sale of the Certificates and Bonds to the Council in late April, with a Council vote on adopting ordinances authorizing the sale also expected at that time.
Council Presentation: https://richardsontx.swagit.com/e/02212023-594/8/
