Cedar Park City Council members voted to establish a Bond Advisory Task Force to identify projects for inclusion in a potential 2027 bond program at the Aug. 13 City Council meeting.
The big picture
The formation of the task force is a step toward calling a bond election. City leaders have expressed interest in issuing bonds in order to pay for major capital projects. In order to do that, the city needs approval from the voters.
The bond advisory task force will work with city staff to determine the amount of the potential bonds and what projects they would fund, and then present a recommended bond program to City Council. City Council members will then vote to call a bond election, giving voters the opportunity to decide whether to approve the bond program.
The details
City staff members have already begun compiling a preliminary list of suggested projects based on existing city master plans like the mobility master plan and the parks master plan, said Randy Lueders, director of engineering and capital projects.
That project list currently totals over $300 million, he said, and the task force would have to select which of those projects are most important.
The city’s debt capacity for the potential program would likely range from about $180 million to $240 million, but because costs will increase over six to eight years, city staff expects the projects will likely need to end up in the range of $136 million to $182 million.
The task force will consist of 15 people. The mayor will appoint the chair and two members, and each council member will appoint two members as well. The final makeup of the task force will be subject to approval by a City Council vote.
Council members discussed several people they were considering appointing at the meeting, but multiple council members said they had not made their final decisions and are open to hearing from members of the public who are interested in joining the task force.
Mayor Jim Penniman-Morin said he plans to appoint former council member Eric Boyce as chair of the task force.
“[A] thing that’s great about this task force is that it’s not just our opinions. It’s 15 other residents who are respected, informed members ... to understand these projects and make some tough recommendations,” Penniman-Morin said.
Some context
The city uses general obligation bonds to fund major public projects, including transportation and utility infrastructure, city facilities, parks and more, city documents state. Voter approval is required to issue general obligation bonds.
If approved by voters next year, the city would sell the bonds to fund the designated projects and then repay those bonds using property tax revenue.
The city of Cedar Park has used general obligation bonds in the past. Most recently, voters approved $158.8 million in bonds in 2022 to fund a wide variety of projects including road expansions, new shared-use paths, park upgrades and the construction of the new public safety training facility. The creation of the Bond Advisory Task Force is consistent with the process used in the 2007, 2015 and 2022 bond programs, city documents state.
“I think it’s important to highlight the past—how very successful the staff has been with prior bonds,” council member Kevin Harris said. “I think it’s very important to remind folks of the value of what this mechanism does.”
What’s next
Community members who would like to be considered for appointment to the task force are asked to submit an application to the city secretary by Aug. 21. All appointees are required to live within the city limits.
City Council members are set to vote to appoint the members of the task force Aug. 27.
The task force would then meet roughly seven times throughout the fall and submit recommendations late this year.
City Council members would then vote in February to call a bond election in May.
