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Jul 14, 2020 · Related development

Council authorizes $28.5 million water and sewer bonds (New Series 2020) for the TWDB smart-meter loan, 5-0

On July 14, 2020 the council adopted Ordinance No. 7860, 5-0, authorizing Waterworks and Sewer System Revenue Bonds, New Series 2020, repaid from water and sewer revenues. The staff memo said the City had a $28,500,000 loan commitment from the Texas Water Development Board's Clean Water State Revolving Fund, plus a $1,000,000 Green Project Reserve grant, to pay for advanced metering infrastructure (AMI), and that a rate increase effective October 1, 2019 was to fund the debt service. City financial reports record $28,500,000 issued, bearing no interest and maturing through 2040. The schedules of debt list $295,111 spent at September 30, 2023, $3,538,834 at September 30, 2024 and $12,947,752 at September 30, 2025.^[1]^[2]^[3]^[4]^[5]^[6]

Ginger Nelson Elaine Hays Freda Powell Eddy Sauer Howard Smith Laura Storrs

What the sources say

✓ Verified
On July 14, 2020 the council passed Ordinance No. 7860, authorizing "City of Amarillo, Texas, Waterworks and Sewer System Revenue Bonds, New Series 2020" and pledging the net revenues of the water and sewer system, on first and final reading, 5-0, on a motion by Councilmember Powell seconded by Councilmember Sauer. Assistant City Manager Laura Storrs and the City's financial advisor, Specialized Public Finance, Inc., presented it. ^[1]
For
5
Against
0
✓ Verified
The staff memo said the City had received a Texas Water Development Board loan commitment of $28,500,000 from the Clean Water State Revolving Fund, plus a $1,000,000 Green Project Reserve grant, to finance the advanced metering infrastructure (AMI) project; that the board approved the loan on February 13, 2020; and that a rate increase that took effect October 1, 2019 was to fund the debt service. ^[2]
Amount
$28,500,000
Grant
$1,000,000
✓ Verified
The City's FY2025 financial report records the Waterworks and Sewer System Revenue Bonds, Series 2020, at $28,500,000, maturing through 2040 with principal payments of $1,425,000 and bearing no interest. The schedules of debt describe the purpose as "construction of automated metering infrastructure" and list proceeds spent of $295,111 at September 30, 2023, $3,538,834 at September 30, 2024 and $12,947,752 at September 30, 2025, leaving $15,552,248 unspent at the last date. ^[3]^[4]^[5]^[6]
Issued
$28,500,000
Spent 2025
$12,947,752
Unspent 2025
$15,552,248

Sources

1.Amarillo City Council Regular Meeting Minutes, 2020-07-14 — City of Amarillo, Jul 14, 2020 · retrieved Oct 16, 2026primarySubject-authoredScanned minutes read with OCR. Items 3A and 3B: Ordinance No. 7860 (Waterworks and Sewer System Revenue Bonds, New Series 2020) and Ordinance No. 7861 (Drainage Utility System Revenue Bonds, Series 2020), each "the motion carried by a 5:0 vote of the Council."
2.City Council Regular Meeting agenda and packet, July 14, 2020 — City of Amarillo, Jul 14, 2020 · retrieved Oct 16, 2026primarySubject-authoredIncludes the staff memos for the water and sewer and drainage revenue bonds. The water and sewer memo states: "The City has received a loan commitment from the Texas Water Development Board (TWDB) of $28,500,000 to fund this bond issue from the Clean Water State Revolving Fund."
3.City of Amarillo Annual Comprehensive Financial Report, fiscal year ended September 30, 2025 — City of Amarillo, Jun 4, 2026 · retrieved Oct 9, 2026primarySubject-authoredNote 13 (long-term obligations) describes each certificate-of-obligation series; Note 29 (subsequent events) records the Series 2026 and 2026A certificates, the Series 2026 PPFCOs and 2026 water-sewer revenue bonds. Issue dates differ in places between Note 13 and the statistical tables.
4.Schedule of Debt, City of Amarillo, September 30, 2023 — City of Amarillo, Mar 1, 2026 · retrieved Oct 16, 2026primarySubject-authoredSchedule as of September 30, 2023; this copy was posted in March 2026 (upload folder). Lists each series with authorized, issued, outstanding, spent and unspent amounts and purpose.
5.Schedule of Debt, City of Amarillo, September 30, 2024 — City of Amarillo, Mar 1, 2026 · retrieved Oct 16, 2026primarySubject-authoredSchedule as of September 30, 2024; this copy was posted in March 2026 (upload folder). Lists each series with authorized, issued, outstanding, spent and unspent amounts and purpose.
6.Schedule of Debt at September 30, 2025 (as required by Section 140.008, Texas Local Government Code) — City of Amarillo, Jul 1, 2026 · retrieved Oct 9, 2026primarySubject-authoredPosted July 2026 (upload folder); lists each series with authorized, issued, outstanding, spent and unspent amounts and purpose.