HomeMy WebLinkAboutItem 14 - Certificates of Obligation MEMO TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: BRUNO RUMBELOW, CITY MANAGER
MEETING DATE: APRIL 21, 2026
SUBJECT: ORDINANCE PROVIDING FOR THE ISSUANCE AND SALE OF CITY
OF GRAPEVINE, TEXAS, COMBINATION TAX AND REVENUE
CERTIFICATES OF OBLIGATION, SERIES 2026
RECOMMENDATION: City Council to consider an ordinance providing for the issuance and sale
of City of Grapevine, Texas, Combination Tax and Revenue Certificates of
Obligation, Series 2026, in an aggregate principal amount not to exceed
$30,000,000; awarding the sale thereof; levying a tax in payment thereof;
authorizing the execution and delivery of a paying agent/registrar
agreement; approving the official statement; approving a bond counsel
engagement letter, and enacting other provisions relating thereto.
FUNDING SOURCE: Upon approval of the ordinance and sale, bond funds will be available in
the Utility Enterprise Fund.
BACKGROUND: This action will authorize the issuance of not to exceed $30,000,000 total
principal amount of Certificates of Obligation for the purposes of:
(a) Water plant maintenance building improvements, and water plant
emergency generator.
(b) Wastewater plant end of life replacements of clarifiers, filters, air lines,
blowers and electrical system across all three treatment trains.
(c) Relocation of raw water pump house.
(d) Professional services incurred in connection with items (a) through (c)
and paying the costs incurred in connection with the issuance of the
certificates.
CONSIDERATION OF THIS ORDINANCE IS TABLED TO THE MAY 5,
2026, COUNCIL MEETING