PILLAR: Fiscally Sound
AGENDA DATE: September 9, 2026
COUNCIL DISTRICT(S): N/A
DEPARTMENT: City Controller’s Office
PRIORITY: N/A
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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 Refunding and Improvement Bonds, Series 2026 in an amount not to exceed $312,000,000; and (2) Equipment Acquisition Contractual Obligations, Series 2026 in an amount not to exceed $36,000,000 - Financing: This action has no cost consideration to the City (see Fiscal Information for potential future costs)
*In alignment with Bond Implementation Program.
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 $348,000,000 in bonds for the purpose of funding approved capital improvements, refunding eligible outstanding obligations for savings, and funding various City equipment needs. Based on the funding needs, the City’s co-financial advisors recommend the issuance of: (1) General Obligation Refunding and Improvement Bonds, Series 2026, to finance capital improvement projects at the City and refund up to $58,000,000 of eligible Series 2017 obligations for savings, in an amount not to exceed $312,000,000; and (2) Equipment Acquisition Contractual Obligations, Series 2026 (“equipment notes” or “bonds”), to finance the purchase of City equipment for general fund departments including Dallas Fire-Rescue, Stormwater Operations, and Sanitation Services, in an amount not to exceed $36,000,000.
The issuance and sale of the bonds is contingent upon the City Council approval to begin preparations of the issuances and approval of parameters ordinances currently scheduled for consideration and approval by the City Council in October 2026. 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 2026
Approval of Parameters Ordinances October 2026
Pricing November 2026
Delivery of Proceeds December 2026
PRIOR ACTION/REVIEW (COUNCIL, BOARDS, COMMISSIONS)
The City Council was briefed by memorandum regarding this matter on September 3, 2026. <https://dallascityhall.com/government/citymanager/Documents/FY25-26%20Memos/September%209,%202026,%20City%20Council%20Agenda%20Item%20No.%2026-2722A.pdf>
FISCAL INFORMATION
This action has no cost consideration to the City. Payment for cost of issuance is not made unless the bonds are issued. The City Council approval of the ordinance authorizing the sale of bonds is scheduled for October 28, 2026. Attachment I provides an estimate of bond issuance costs for the proposed bonds.
The anticipated cost of issuance is a total of approximately $1,294,000, collectively, from the Series 2026 General Obligation Refunding and Improvement Bonds Fund and Series 2026 Equipment Acquisition Notes Funds.