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Feb 10, 2026 · Context

Council authorizes water and sewer revenue bonds, New Series 2026 (Ord. 8237)

On February 10, 2026 the council adopted, 5-0, Ordinance No. 8237 authorizing Waterworks and Sewer System Revenue Bonds, New Series 2026. The staff memo put proceeds at about $6 million and said council had been shown a planned water line extension in the northwest quadrant with the debt issue on December 9, 2025; debt service would be paid from a commercial rate tier approved for October 1, 2024. The FY2025 financial report records $5,945,000 issued on February 10, 2026. The memo does not mention the Northeast Interceptor.^[1]^[2]^[3]^[4]

Cole Stanley Tim Reid Don Tipps David Prescott Les Simpson Donny Hooper

What the sources say

✓ Verified
On February 10, 2026 the council adopted Ordinance No. 8237 authorizing Waterworks and Sewer System Revenue Bonds, New Series 2026, 5-0 (Stanley, Reid, Tipps, Prescott, Simpson; motion by Councilmember Tipps, second by Councilmember Reid). Presenters included Finance Director Katrina Owens and Assistant City Manager Donny Hooper. ^[1]
✓ Verified
The staff memo said "the approximately $6 million in proceeds will be used to improve and extend the City's waterworks and sewer system"; that at the December 9, 2025 meeting council "was presented information about the approved 2024/25 CIP for a water line extension in the NW quadrant along with information about this proposed debt issuance"; and that additional revenue from a new commercial water and sewer rate tier for customers using over 10,000 gallons, approved for October 1, 2024, "will go to pay for the annual debt service." ^[2]^[3]
Proceeds estimate
$6,000,000
✓ Verified
The FY2025 financial report's subsequent-events note says that on February 10, 2026 the City issued $5,945,000 of Water Sewer Revenue Bonds at rates of 4% to 5% "for a construction project to be paid for through water customer revenues." ^[4]
Issued
$5,945,000
✓ Verified
Neither the February 10, 2026 memo nor the financial report names the Northeast Interceptor as a use of the Series 2026 proceeds; the memo names a northwest-quadrant water line extension. ^[2]^[4]

Sources

1.Amarillo City Council Minutes, February 10, 2026 Regular Meeting — City of Amarillo, May 17, 2026 · retrieved Oct 10, 2026primarySubject-authored
2.Amarillo City Council Regular Meeting agenda packet, February 10, 2026 — City of Amarillo, Feb 10, 2026 · retrieved Oct 16, 2026primarySubject-authoredItem 7.4 transmittal memo for Ordinance No. 8237, Waterworks and Sewer System Revenue Bonds, New Series 2026 (page 170 of 183). 'published' approximated as the meeting date.
3.Amarillo City Council Minutes, December 9, 2025 Regular Meeting — City of Amarillo, Jan 24, 2026 · retrieved Oct 10, 2026primarySubject-authored
4.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.