On Sept. 14, Bellaire officials unanimously authorized a bid for bonds of $12.5 million.
The sale of the ‘general obligation bonds’ will finance water and wastewater capital improvements within the city, as well as pay the costs associated with bond issuance, according to agenda documents.
How it happened
Chief Financial Officer Terrence Beaman recommended that council members approve the award of a bid for bonds at the Sept. 14 council session. The accompanying ordinance authorizing the $12.5 million issuance from the city’s general obligation bonds was also brought to the council for consideration.
Beaman highlighted that this is the first sale to be made from Bellaire’s 2024 bond referendums, which residents voted for in the 2024 local election for projects such as the Cypress Ditch project and demolition of the city’s existing wastewater treatment plant.
The issued amount will be taken from the $30 million bond designated specifically for water and wastewater improvements, leaving approximately $17.5 million remaining.
Put in perspective
James Gilley, a representative from wealth management company U.S. Capital Advisors, also presented a summary of the bond sale to the council, describing it as a “successful” process.
Among the seven bids received, public finance business TD Financial Products presented the strongest offer to purchase the bonds from the city and was subsequently selected, Gilley said.
Bellaire City Council members previously approved putting up for sale $12.5 million of the city’s general obligation bonds in June 2026.
What they’re saying
Council member Todd Thurber inquired whether the bonds had already been incorporated into the fiscal year 2026-27 budget, and Beaman confirmed they had.
“The good thing is, we’re selling these bonds when we need them. Not just because we have them,” Beaman stated.
With the ordinance now authorized, the awarding process is scheduled to close Oct. 14, Gilley said.
