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Jul 14, 2020 · Context

Council authorizes Drainage Utility System Revenue Bonds, Series 2020 (Ord. 7861), 5-0

On July 14, 2020 the council adopted Ordinance No. 7861, 5-0, authorizing Drainage Utility System Revenue Bonds, Series 2020, repaid from the drainage utility's net revenues, at the same meeting as the water and sewer bonds. The staff memo said the bonds would finance improvement and construction of the City's drainage system. City financial reports record $9,240,000 issued, maturing through 2040, and the City's schedules of debt show the proceeds fully spent by September 30, 2023; they do not name the projects.^[1]^[2]^[3]^[4]^[5]

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. 7861, authorizing "City of Amarillo, Texas, Drainage Utility System Revenue Bonds, Series 2020" and pledging the net revenues of the City's drainage utility system, on first and final reading, 5-0 (Mayor Nelson; Councilmembers Hays, Powell, Sauer and Smith). 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 ordinance authorized the bonds to finance improvement and construction of the City's drainage system. ^[2]
✓ Verified
The City's FY2025 financial report records $9,240,000 of Drainage Utility System Revenue Bonds, Series 2020, at 2.00-5.00%, maturing through 2040. The schedules of debt list all $9,240,000 spent at September 30, 2023, and $7,410,000 of principal outstanding at September 30, 2025. ^[3]^[4]^[5]
Issued
$9,240,000
Outstanding 2025
$7,410,000

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 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.