| | | | | | | | City of Georgetown, Texas
City Council Regular Meeting
August 23, 2022 |
| | | | | | | | SUBJECT:
Consideration and possible action to approve on first and final reading an "Ordinance authorizing the issuance of City of Georgetown, Texas Limited Tax Note, Series 2022; Levying an ad valorem tax in support of the note; awarding the sale of the note; and authorizing other matters related to the issuance of the note" -- Leigh Wallace, Finance Director |
| | | | | | | | ITEM SUMMARY:
During the August 9, 2022 Council Workshop, Assistant City Manager Nick Woolery presented a hybrid approach to managing the delivery of capital improvement projects. This new approach includes contracting out various activities, and using short-term debt repaid by property taxes for the funding source of the contracts.
This item is to approve the sale of $4,000,000 limited tax notes for the following purposes:
Projects:
1. Roadway construction, re-construction, and expansion projects
1. Southwestern Boulevard
2. Rockride Lane
3. Shell Road
4. D.B. Wood Road
5. SE Inner Loop
6. Leander Road
7. SH 29
8. Williams Drive
9. Wolf Ranch Parkway
10. Memorial Drive
11. FM 971
2. Sidewalk construction and reconstruction projects
1. Downtown sidewalks
2. Old Town sidewalks
3. San Jose and TRG sidewalks
3. Roadway intersection improvement projects
4. Bridge construction and reconstruction
1. Austin Avenue bridges rehabilitation
2. Austin Avenue pedestrian bridges
5. Parking garage construction and equipping
1. Downtown parking garage
6. Renovating, improving or equipping existing buildings or facilities
1. Georgetown Municipal Complex
2. Recreation Center
3. Historic Light and Waterworks
7. Constructing, renovating, improving, or equipping fire stations or other public safety facilities
1. Fire Logistics Building
2. Fire Station 1 Renovation
3. Fire Station 3 Renovation
4. Fire Station 4 Relocation
5. Fire Station 8
6. Public Safety Operation and Training Center
|
| | | | | | | | FINANCIAL IMPACT:
The impact on the tax rate has already been calculated into the FY23 approved interest and sinking portion of the tax rate which will be $0.24181.
COMMENTS
Actual interest rates for this debt issue will not be determined until just prior to the reading of the ordinance at the Council meeting on August 23, 2022. The City of Georgetown will receive the proceeds September 14, 2022.
Please note all ordinances will be approved and effective on First Reading in accordance with Section 1201.028, Texas Government Code.
|
| | | | | | | | SUBMITTED BY:
Sharon Parker |
|