Agenda No.
CITY COUNCIL MEMORANDUM
| City Council Meeting: | May 12, 2026 |
| Department: | Finance |
| Subject: | Schedule for the Issuance of Certificates of Obligation Series 2026 |
BACKGROUND
Following the Capital Improvements Plan (CIP) FY 2025-26, which was adopted with the Budget, staff has begun the process of issuing Certificates of Obligation (debt) to fund the identified projects. The total Property Tax Supported Debt proposed to be issued is $8,742,000 and $1,100,000 supported by Drainage Fees.
Originally, the CIP included a bond proposal for Water and Sewer Projects, however due to project delays, these funds are no longer needed in this fiscal year. An updated CIP will be proposed with the FY 2026-27 Budget with an updated funding and construction schedule for these projects.
This presentation by SAMCO Capital, Financial Advisors for Schertz, is to outline the timeline for the issuance process, including key dates for council vote and public notifications.
There is no vote on the debt issuance tonight and council can vote against the issuance at any point during the process.
GOAL
To review the timeline of the proposed bond issuance and answer any questions over the process.
COMMUNITY BENEFIT
This presentation will detail council meetings and information publication dates for any member of the public is interested.
SUMMARY OF RECOMMENDED ACTION
No action is required.
RECOMMENDATION
No action is required.