Council authorizes Drainage Utility System Revenue Bonds, Series 2023
The council adopted Ordinance No. 8039, 5-0, authorizing Drainage Utility System Revenue Bonds, Series 2023, pledging the drainage system's net revenues; the CFO and the City's financial advisor presented it. City financial reports record $4,675,000 issued, maturing through 2042.[1][2][3][4]
On January 10, 2023 the council adopted Ordinance No. 8039 authorizing "City of Amarillo, Texas, Drainage Utility System Revenue Bonds, Series 2023," pledging the drainage utility system's net revenues, 5-0 (motion by Mayor Pro Tem Powell, second by Councilmember Smith). At the same meeting it adopted, 5-0, Ordinance No. 8040 (waterworks and sewer revenue bonds) and Ordinance No. 8041 (certificates of obligation).
[1][2]
✓ Verified
City financial reports record the Series 2023 drainage revenue bonds at $4,675,000, at 4.00-5.00%, maturing through 2042. At September 30, 2025, $4,275,000 was outstanding, and the schedule of debt lists $852,991 of proceeds spent and $3,822,009 unspent.
[3][4]
Issued
$4,675,000
Outstanding
$4,275,000
Spent
$852,991
Unspent
$3,822,009
⚠ Sources differ
City financial records give different issue dates for the Series 2023 drainage revenue bonds.
