PILLAR: Fiscally Sound
AGENDA DATE: October 22, 2025
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, Equipment Acquisition Contractual Obligations, Series 2025, in an aggregate principal amount not to exceed $35,000,000.00; (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 $269,552.00 - Financing: 2025 Equipment Acquisition Notes Fund
Body
BACKGROUND
On September 24, 2025, the City Council authorized the preparations of plans and the payment of future costs and expenses for the issuance of Equipment Acquisition Contractual Obligations, Series 2025 (the “Series 2025 Bonds”), in a total amount not to exceed $35,000,000.00, to finance the purchase of City equipment for general fund departments, stormwater, and sanitation services.
As such, the City’s co-financial advisors, Hilltop Securities, Inc. and Estrada Hinojosa & Co., recommend the issuance of the Equipment Acquisition Contractual Obligations, Series 2025 in an amount not to exceed $35,000,000.00 via a competitive sale.
This ordinance authorizes City staff and financial advisors, subject to parameters, to competitively bid the sale and issuance of Equipment Acquisition Contractual Obligations, Series 2025, tentatively scheduled in November 2025.
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. <https://dallascityhall.com/government/citymanager/Documents/FY24-25%20Memos/September-24-2025-City-Council-Agenda-Item-25-2515A.pdf>
On September 24, 2025, the City Council approved a resolution authorizing the preparation of plans and the payment of potential future costs and expenses for the issuances of General Obligation Bonds, Series 2025 in an amount not to exceed $252,000,000; and Equipment Acquisition Contractual Obligations, Series 2025 in an amount not to exceed $35,000,000 by Resolution No. 25-1557.
Information about this item will be provided to the Finance Committee on October 21, 2025.
FISCAL INFORMATION
|
Fund |
FY 2026 |
FY 2027 |
Future Years |
|
2025 Equipment Acquisition Notes Fund |
$269,552.00 |
$0.00 |
$0.00 |
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.