Title
Consider and take action on an ordinance authorizing the issuance of City of League City, Texas, Combination Tax and Revenue Certificates of Obligation, Series 2026; levying an ad valorem tax in payment thereof; setting certain parameters for the sale of the certificates; approving the preparation and distribution of an official statement; enacting other provisions relating thereto; and providing for the effective date thereof (Assistant City Manager - CFO)
Staff requests approval on first and final reading.
Background:
Approval of this ordinance will authorize a negotiated sale of $165.9 million in Certificates of Obligation (the “Certificates”) within the parameters presented. City Council will have the option to accept a negotiated bid received on August 25, 2026 or direct the team to market and price the issuance within the parameters specified below at a later date.
The $165.9 million is detailed by project, terms, and repayment source below:
TIRZ 4 Supported - 6-year CO debt of $6.50 million to be funded by TIRZ Property Tax revenue
Major Thoroughfares: $6.5 million
Brittany Bay Blvd (League City Parkway)
Maple Leaf Drive
Detention (Excavation, Structures & Land)
TIRZ Administration & Interest Earned
4B Supported - 25-year CO debt of $49.50 million to be funded by 4B dedicated Sales Tax revenue
Pat Hallisey Park PK2001 $49.5 million
Revenue Supported - Utility 20-year debt totaling $20.90 million to be funded by Water and Wastewater Sale revenue
West Side Well, GST, Generator and BPS (Calder South) WT1707 $7.1 million
Dallas Salmon WWTP Improvements WW2103 $13.8 million
Revenue Supported - Utility 20-year debt of $6.0 million to be funded by Water Capital Recovery Fee revenue
West Side Well, GST, Generator and BPS (Calder South) WT1707 $6 million
Revenue Supported - Utility 30-year debt of $83.0 million to be funded by Wastewater Capital Recovery Fee revenue
2.0 MGD Expansion of SWWRF (to 6.0 MGD) WW2201 $83.0 million
In o...
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