Council authorizes water and sewer revenue bonds, New Series 2023 (Ord. 8040)
On January 10, 2023 the council adopted, 5-0, Ordinance No. 8040 authorizing Waterworks and Sewer System Revenue Bonds, New Series 2023, pledging the water and sewer system's net revenues. City financial reports record $42,920,000 issued, dated January 1, 2023, for improvement and extension of the waterworks and sewer system, maturing through 2043. The City's debt schedules show none of the proceeds spent at September 30, 2023 or 2024, and $23,375,011 spent at September 30, 2025.[1][2][3][4][5]
On January 10, 2023 the council adopted Ordinance No. 8040 authorizing "City of Amarillo, Texas, Waterworks and Sewer System Revenue Bonds, New Series 2023," pledging the net revenues of the waterworks and sewer system and approving a paying agent agreement and official statement, 5-0 (Mayor Nelson, Mayor Pro Tem Powell, and Councilmembers Sauer, Smith and Stanley; motion by Mayor Pro Tem Powell, second by Councilmember Sauer). Ms. Storrs and Mr. Adams of Specialized Public Finance presented the item.
[1]
✓ Verified
The City's FY2025 financial report says the City issued the Series 2023 water and sewer revenue bonds on January 1, 2023 in the amount of $42,920,000, for improvement and extension of the waterworks and sewer system, at rates of 4.00% to 5.00%, maturing through 2043. The September 30, 2025 debt schedule lists $41,670,000 outstanding.
[2][5]
Issued
$42,920,000
Outstanding sep 2025
$41,670,000
✓ Verified
The City's debt schedules report the Series 2023 proceeds spent as of each year end.
The minutes, financial report and debt schedules describe the Series 2023 purpose only as "improvement and extension" of the waterworks and sewer system; no City record found ties this series to the Northeast Interceptor or names the projects it funded.
[1][2][5]
