PILLAR: Fiscally Sound
AGENDA DATE: June 24, 2026
COUNCIL DISTRICT(S): N/A
DEPARTMENT: City Controller's Office
PRIORITY: N/A
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SUBJECT
Title
An ordinance authorizing (1) the issuance and sale of City of Dallas, Texas Waterworks and Sewer System Revenue Refunding Bonds, Series 2026A in a principal amount not to exceed $205,000,000.00; (2) establishing parameters regarding the sale of the bonds; (3) approving the execution of agreements in connection with the sale of the bonds; and (4) all other matters related thereto - Not to exceed $660,000.00 - Financing: Dallas Water Utilities Fund
*In alignment with Water and Wastewater Capital Improvement Program.
Body
BACKGROUND
On June 10, 2026, the City Council authorized the preparations of plans and the payment of future costs and expenses for the issuance of Waterworks and Sewer System Revenue Refunding Bonds, Series 2026A, in a total amount not to exceed $205,000,000.00, for the purpose of refunding and retirement of commercial paper notes issued for interim financing of improvements to the City's water and wastewater system. Currently, the estimated amount of commercial paper outstanding to be refunded at the time of pricing is approximately $200,000,000.00.
At the advisement of the City's Co-Financial Advisors, Hilltop Securities, Inc. and Estrada Hinojosa & Co., the bonds will be sold via a competitive sale based on funding needs and market conditions supported by Dallas Water Utilities' stable credit profile. This ordinance authorizes City staff and financial advisors, subject to parameters, to competitively bid the sale and issuance of City of Dallas, Texas Waterworks and Sewer System Revenue Refunding Bonds, Series 2026A in a principal amount not to exceed $205,000,000.00, scheduled in July 2026.
ESTIMATED SCHEDULE OF PROJECT
Authorized preparation for Issuance of Bonds June 2026
Approval of parameters ordinance June 2026
Prici...
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