Approve the Preliminary Official Statement for the issuance of certificate of obligation bonds ($75M) for capital projects: Municipal Complex, Engineering/Public Works Facility Expansion, Library Renovation, and New Fire Station.

On January 8th, the Commission authorized the Publication of Notice of Intent to issue Texas Certificate of Obligations (CO), Series 2025.  The CO funding use are for the following capital projects:

• New Municipal Complex 
• Engineering/Public Works Facility Expansion
• New Fire Station
• Library Renovations/Repairs

Masterson Advisors, LLC initially proposed $95M, based on the maximum allowable amount without raising COTC’s property tax rate. However, thanks to thorough due diligence and cost analysis, staff successfully reduced the request by $20M, bringing the funding ask down to $75M.

Finance recommends that the issuance of the Texas Certificate of Obligation, Series 2025, not to exceed $75M be approved.