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Jan 26, 2021 · Related development

Council authorizes Series 2021 general obligation bonds, the final 2016 bond-election issue, 5-0

On January 26, 2021 the council adopted Ordinance No. 7902, 5-0, authorizing General Obligation Bonds, Series 2021, for street projects. The staff memo said it was the final issuance of the $89.5 million voters approved for streets (Proposition 1) and the last of the bonds from the November 8, 2016 election. The City's financial advisor told the council the City kept its AAA rating. City records show $52,985,000 issued, maturing through 2046; the schedules of debt list $19,531,384 of the proceeds spent by September 30, 2023, $30,445,812 by 2024 and $52,842,255 by 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 January 26, 2021 the council passed Ordinance No. 7902, authorizing General Obligation Bonds, Series 2021, on first and final reading, 5-0 (motion by Councilmember Powell, second by Councilmember Sauer). The City's financial advisor said the City kept its AAA rating and that the ordinance would allow the bonds to be sold that Thursday if set parameters were met. ^[1]
For
5
Against
0
✓ Verified
The staff memo said the bonds were authorized at the November 8, 2016 election and would fund street projects of about $57.2 million, "the final issuance of the authorized $89.5 million to fund streets and the final issuance of the voter approved bonds from the November 8, 2016 election." ^[2]
✓ Verified
The City's FY2025 financial report says the City issued $52,985,000 of General Obligation Bonds, Series 2021, for street projects approved by voters in November 2016, at 2.00-4.00%, maturing through February 15, 2046. The schedules of debt list proceeds spent of $19,531,384 at September 30, 2023, $30,445,812 at September 30, 2024 and $52,842,255 at September 30, 2025, with $142,745 unspent and $47,515,000 of principal outstanding at the last date. They do not name the streets funded. ^[3]^[4]^[5]^[6]
Issued
$52,985,000
Spent 2025
$52,842,255
Outstanding 2025
$47,515,000

Sources

1.City Council Regular Meeting minutes, January 26, 2021 — City of Amarillo, Jan 26, 2021 · retrieved Oct 14, 2026primarySubject-authoredScanned signed minutes (8 pages, read as images) from the City's CivicClerk archive (event 769); 'published' set to the meeting date. Items 3N (Ordinance No. 7901), 3O (tax abatement) and 3P (location incentive agreement).
2.City Council Regular Meeting agenda and packet, January 26, 2021 — City of Amarillo, Jan 26, 2021 · retrieved Oct 16, 2026primarySubject-authoredScanned packet (no text layer; memo pages read with OCR). The General Obligation Bonds, Series 2021 memo states: "This bond issue is the final issuance of the authorized $89.5 million to fund streets and the final issuance of the voter approved bonds from the November 8, 2016 election."
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.