Bond issue 2018

The City of League City is proposing to fund projects identified in the 2018 to 2021 Capital Improvements Plan through Certificates of Obligation.

The recommendation for Certificates of Obligation provides the lowest issuance cost by combining tax and revenue supported projects into one issue. Authorization to secure a Certificate of Obligation will also provide League City with the lowest interest rate and require no separate reserve fund.

'Tax Supported' Projects

• Ervin Connector ($1.55 million)
  • Project will construct Ervin Street from Calder Road to the new Hobbs Road extension (approximately 1,850 feet)
  • FY2018 phase is construction
• New Animal Shelter ($6.85 million)
  • Construction of a new animal shelter to replace the current shelter building.
• Fire/EMS Station 6 ($3.14 million)
  • Construct a new fire station in the southeast portion of the city to support 24-hour operations and include living quarters for four firefighters and two paramedics/EMTs, three bays and a pumper.

The Certificates of Obligation for capital improvement projects would total $11.7 million, if approved. This includes $11.54 million for tax supported projects and $0.16 million for the cost of issuance.

View the full presentation provided during the City Council Work Session held on June 12, 2018.