STRATEGIC PRIORITY: Fiscally Sound
AGENDA DATE: September 24, 2025
COUNCIL DISTRICT(S): N/A
DEPARTMENT: City Controller’s Office
EXECUTIVE: Jack Ireland
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SUBJECT
Title
A resolution authorizing the preparation of plans and the payment of potential future costs and expenses for the issuances of (1) General Obligation Bonds, Series 2025 in an amount not to exceed $252,000,000; and (2) Equipment Acquisition Contractual Obligations, Series 2025 in an amount not to exceed $35,000,000 - Financing: This action has no cost consideration to the City (see Fiscal Information for potential future costs)
Body
BACKGROUND
This item authorizes the preparation of plans and the payment of potential future costs and expenses for multiple bond issuances. Pursuant to elections held in May 2024, the residents of Dallas voted and authorized the City to issue general obligation bonds for the purpose of providing funds for permanent public improvements. In addition to issuing bonds for capital projects, the City also issues bonds to satisfy other funding needs, including fleet and large equipment.
The City’s co-financial advisors, Hilltop Securities, Inc. and Estrada Hinojosa & Co., recommend collectively issuing up to $287,000,000 in bonds for the purpose of funding capital improvements and various City equipment needs. Based on the funding needs, the City’s co-financial advisors recommend the issuance of: (1) General Obligation Bonds, Series 2025 to finance capital improvement projects at the City in an amount not to exceed $252,000,000; and (2) Equipment Acquisition Contractual Obligations, Series 2025 (equipment notes) to finance the purchase of City equipment for general fund departments, stormwater, and sanitation services, in an amount not to exceed $35,000,000.
The issuance and sale of the bonds is contingent upon the City Council approval to begin preparations of the issuances and parameters Ordinances currently scheduled for consideration and approval by the City Council in October 2025. The bond issuances are structured to issue separately according to funding needs and timing requirements.
ESTIMATED SCHEDULE OF PROJECT
Authorize Preparation for Issuance of Bonds September 2025
Approval of Parameters Ordinances October 2025
Pricing November 2025
Delivery of Proceeds December 2025
PRIOR ACTION/REVIEW (COUNCIL, BOARDS, COMMISSIONS)
The City Council was briefed by memorandum regarding this matter on September 19, 2025.
FISCAL INFORMATION
This action has no cost consideration to the City. The anticipated cost of issuance is a total of approximately $1,209,000, collectively, from Series 2025 General Obligation Bonds Fund; and Series 2025 Equipment Acquisition Notes Fund. See Attachment I.
Attachment I provides an estimate of bond issuance costs for the proposed bonds. Payment of fees and expenses is contingent upon the issuance and sale of the bonds.