PILLAR: Fiscally Sound
AGENDA DATE: October 28, 2026
COUNCIL DISTRICT(S): N/A
DEPARTMENT: City Controller’s Office
PRIORITY: N/A
______________________________________________________________________
SUBJECT
Title
An ordinance authorizing (1) the issuance and sale of City of Dallas, Texas, General Obligation Refunding and Improvement Bonds, Series 2026, in an aggregate principal amount not to exceed $315,000,000; (2) levying a tax in payment thereof; (3) awarding the sale thereof and approving execution of a Purchase Agreement, a Deposit Agreement and an Escrow Agreement; (4) approving the official statement; and (5) enacting other provisions relating to the subject - Not to exceed $1,111,870 - Financing: 2026 General Obligation Bonds Fund
*In alignment with Bond Implementation Program.
Body
BACKGROUND
On September 9, 2026, the City Council authorized the preparations of plans and the payment of future costs and expenses for the issuance of General Obligation Refunding and Improvement Bonds, Series 2026 (the “Series 2026 Bonds”), in a total amount not to exceed $312,000,000.00, to finance capital improvement projects at the City and refund up to $58,000,000.00 of eligible Series 2017 obligations for savings.
As such, the City’s co-financial advisors, Hilltop Securities, Inc. and Estrada Hinojosa & Co., recommend the issuance of the General Obligation Refunding and Improvement Bonds, Series 2026 in an amount not to exceed $312,000,000.00 via a competitive sale. For investor consideration ahead of the planned sale, S&P Global Ratings and Fitch Ratings have affirmed the “AA-“ and “AA” ratings on the bonds, respectively. The outlook for both is stable.
This ordinance authorizes City staff and financial advisors, subject to parameters, to competitively bid the sale and issuance of City of Dallas, Texas, General Obligation Refunding and Improvement Bonds, Series 2026, tentatively scheduled in November 2026.
ESTIMATED SCHEDULE OF PROJECT
Authorize Prepa...
Click here for full text