Regular Called Meeting of the Bond Oversight Commission June 18, 2025, 2:00 P.M to 4:00 P.M Austin City Hall, Boards & Commissions Room 1101 301 W 2nd Street, Austin TX 78701 Some members of the BOARD/COMMISSION may be participating by videoconference. The meeting may be viewed online at: http://www.austintexas.gov/page/watch-atxn-live Public comment will be allowed in-person or remotely via telephone. Speakers may only register to speak on an item once either in-person or remotely and will be allowed up to three minutes to provide their comments. Registration no later than noon the day before the meeting is required for remote participation by telephone. To register to speak remotely, call or email Nicole Hernandez, 512-974-7644, nicole.hernandez@austintexas.gov CURRENT COMMISSIONERS: John Mc Nabb, Chair Charles Curry, Vice Chair Zachary Bird Ramiro Diaz JC Dwyer Stephen Gonzalez Bob Libal Santiago Rodriguez Kenneth Standley CALL TO ORDER AGENDA PUBLIC COMMUNICATION: GENERAL The first 10 speakers signed up prior to the meeting being called to order will each be allowed a three-minute allotment to address their concerns regarding items not posted on the agenda. APPROVAL OF MINUTES 1. Approval of the minutes of the Regular meeting of the Bond Oversight Commission on May 21, 2025. Staff Briefings 2. Staff briefing from Watershed Protection Department on the bond programs 3. Staff briefing on the Annual Bond Sale by Financial Services Department DISCUSSION ITEMS 4. Discussion on the 2026 Bond Election Advisory Task Force recent meeting items FUTURE AGENDA ITEMS ADJOURNMENT The City of Austin is committed to compliance with the American with Disabilities Act. Reasonable modifications and equal access to communications will be provided upon request. Meeting locations are planned with wheelchair access. If requiring Sign Language Interpreters or alternative formats, please give notice at least 2 days (48 hours) before the meeting date. Please call Nicole Hernandez, Capital Delivery Department, at 512-974-7644, for additional information; TTY users’ route through Relay Texas at 711. For more information on the Bond Oversight Commission, please contact Nicole Hernandez at 512-974-7644.
Annual General Obligation Bond Sale & CIP Update Belinda Weaver, Treasurer Joey Kellar, Division Chief – Treasury General Obligation Debt • Property Tax Rate has 2 components Tax Rate Operating & Maintenance (O&M) (General Fund) Debt (Debt Service Fund) • Debt Service tax rate set each year at level needed to fund principal and interest payments on debt issued and pledged with property tax • Pays both existing debt service and debt service associated with upcoming General Obligation bond sale General Obligation (GO) Debt • GO Debt = Public Improvement Bonds, Certificates of Obligation, and Contractual Obligations – $1.895 billion in outstanding General Obligation debt – Issued once per year – Backed by property (ad valorem) taxes and “full faith and credit” of the City Types of GO Debt Purpose Voter Approval City Term Public Improvement Bonds (PIBs) Capital Improvement projects and capital assets Yes 20 years Certificates of Obligation (COs) Real property: land, buildings, right of way, construction of a public work No 20 years Contractual Obligations (PPFCOs) Personal property: equipment, machinery, vehicles, information technology No 7 years Steps to Sell or Issue Debt Spring 2024 Develop CIP Plan August 2024 for FY2024-25 Annual Capital Budget Appropriations Reimbursement Resolutions Spring/Summer/Fall 2025 Develop Bond Sale Schedule Preliminary Official Statement Council Action on Bond Sales Bond Sales and Closing • Work on upcoming bond sale began Spring 2024 • Debt to be sold in upcoming bond sale supports projects and appropriations (authority to spend) previously approved by City Council • Use of Reimbursement Resolution allows projects to begin now and get funded later • Consistent with IRS regulations • Consistent with Financial Policies regarding cash management • Results in lower interest costs GO Bond Sale – Series 2025 September Sale: Public Improvement Bonds (PIBs) - $358.10 M • 2012 Bond Program: $1.00M • Transportation - $1.00 M • 2016 Bond Program (Transportation): $80.00 M • 2018 Bond Program: $127.10 M • Affordable Housing - $10.00 M • Parks and Recreation - $20.00 M • Flood Mitigation/Open Space/Water Quality - $55.00M • Library & Cultural – $18.00 M • Public Safety - $15.00 M • Health - $4.10 M • Transportation - $5.00 M • 2020 Bond Program: $75.00 M • 2022 Bond Program: $75.00 M GO Bond Sale – Series 2025 • Entire bond sale supports projects and related appropriations already approved by City Council • After September 2025 bond sale, …
C I T Y O F A U S T I N | J u n e 1 8 , 2 0 2 5 Bond Oversight Commission Watershed Protection Department 2018 Bond, Proposition D C I T Y O F A U S T I N | J u n e 1 7 , 2 0 2 5 June 18, B o n d O v e r s i g h t C o m m i s s i o n | p g . 2 Watershed Protection Department Bond Oversight Commission C I T Y O F A U S T I N | J u n e 1 7 , 2 0 2 5 June 18, B o n d O v e r s i g h t C o m m i s s i o n | p g . 3 2018 BOND, PROPOSITION D Flood Mitigation, Open Space & Water Quality Protection Bond Oversight Commission The issuance of $184,000,000 in tax supported general obligation bonds and notes for flood mitigation, open space and water quality and quantity for planning, designing, acquiring, constructing, and installing improvements and facilities for flood control, erosion control, water quality, water quantity, and storm-water drainage, and acquiring land, open spaces, and interests in land and property necessary to do so; and the levy of a tax sufficient to pay for the bonds and notes. • Timeline (as defined in Contract with the Voters): 8 years • Ballot language: https://www.austintexas.gov/sites/default/files/files/Finance/CFO/2018-Bond/Prop_D_Flood_Mitigation_et_al.pdf • Contract with the Voters: https://services.austintexas.gov/edims/document.cfm?id=304077 C I T Y O F A U S T I N | J u n e 1 7 , 2 0 2 5 June 18, B o n d O v e r s i g h t C o m m i s s i o n | p g . 4 2018 – Prop D Watershed Protection BOND BALANCES Voter-approved $184,000,000 Bond Oversight Commission $184,000,000 $26,700,000 Appropriated Encumbered Spent $149,020,045 Committed $175,675,029 Available Data thru Q3FY 2025 $8,324,971 C I T Y O F A U S T I N | J u n e 1 7 , 2 0 2 5 June 18, B o n d O v e r s i g h t C o m m i s s i o n | p g . 5 $200 $35.00 M $180 $30.00 M $160 $25.00 …
