Frisco issuing $45.1M in bonds for upcoming road, water, sewer projects

Frisco City Council approved a pair of ordinances to issue $45.1 million in bonds for upcoming water, sewer and road projects during its Sept. 1 meeting. (Courtesy Fotolia)
Frisco City Council approved a pair of ordinances to issue $45.1 million in bonds for upcoming water, sewer and road projects during its Sept. 1 meeting. (Courtesy Fotolia)

Frisco City Council approved a pair of ordinances to issue $45.1 million in bonds for upcoming water, sewer and road projects during its Sept. 1 meeting. (Courtesy Fotolia)

Frisco is moving forward with a plan to use $45.1 million in bonds to complete upcoming projects such as the expansion of Panther Creek Parkway and the installation of water lines along Rockhill Parkway.

Frisco City Council unanimously approved a pair of ordinances to issue the bonds during its Sept. 1 meeting. Frisco Mayor Jeff Cheney previously explained the funds are to be used for projects that were temporarily paused at the beginning of the coronavirus pandemic to allow the city to assess its budget needs.

Frisco Chief Financial Officer Anita Cothran told council $30 million in general obligation bonds would be used for the continuation of road projects, including the expansion of Panther Creek Parkway between the Dallas North Tollway and Preston Road. She said those bonds were previously authorized by Frisco voters.

“Once we sell this $30 million, we’ll still have $95 million remaining in road bonds that we will be issuing over the next several years,” Cothran said.

Other road projects Cothran said the bonds would fund include the expansions of Rockhill Parkway from the Dallas North Tollway to Teal Road and Coit Road from SH 121 to Main Street.


The remaining $15.1 million in certificates of obligation bonds approved by council will be used for water and sewer utility projects, Cothran said. City staff said the funds would also support the installation of water lines and a sewer interceptor near the future PGA of America headquarters as well as the replacement of a lift station at Legacy Drive.

“The authorization that you’re approving tonight is actually good for one year,” Cothran said to council. “So if something happened and we didn't sell the bonds, we'd still be good for one year.”

The certificates of obligation bonds will be repaid from Frisco’s Water and Sewer Utility Fund, while the general obligation bonds will be repaid from ad valorem taxes. Cheney said issuing the bonds is not expected to affect the city’s tax rate.
By William C. Wadsack
William C. Wadsack is editor of the Frisco edition of Community Impact Newspaper. He previously served as managing editor of several daily and weekly publications in North Texas and his native state of Louisiana before joining Community Impact Newspaper in 2019.


MOST RECENT

An estimated 3,500 trees were destroyed by last October's tornado. (Olivia Lueckemeyer/Community Impact Newspaper)
Free trees: Replace those lost in Richardson tornado and more DFW news

Read the latest business and community news from the Dallas-Fort Worth area.

Frisco confirmed the 21st and 22nd mosquito pools of the season that had tested positive for West Nile virus. (Courtesy Adobe Stock)
Frisco to spray for mosquitoes after two new pools test positive for West Nile virus

The city of Frisco will have a contractor spray for mosquitoes this weekend in two different areas on the city's northside after two pools tested positive for West Nile virus.

Frisco recently approved new incentive agreements and a master development agreement for The Gate development. (Rendering courtesy Invest Group Overseas)
Frisco to save $80M in incentives with new agreements for The Gate development

New agreements for The Gate development along the Dallas North Tollway will save Frisco nearly $80 million in incentive grants compared to previous contracts approved in 2016.

Home furnishings retailer Living Spaces has opened a store in Fort Worth and will offer a variety of designer collections, including Magnolia Home by Joanna Gaines. (Courtesy Living Spaces)
Living Spaces opens in Fort Worth and more DFW-area news

Read the latest Dallas-Fort Worth business and community news.

(Community Impact Newspaper staff)
DATA: Here are the latest real estate trends in Frisco

The number of homes listed for sale decreased in Frisco in September when compared to the same period in 2019.

Oct. 23 is the last day Texas voters can apply for a vote-by-mail ballot. (Courtesy Pexels)
Tackling Texas' vote-by-mail system: Applying, delivering, tracking your ballot

Oct. 23 is the last day Texas voters can apply for a vote-by-mail ballot.

(Community Impact Newspaper staff)
Report on Collin County economic opportunities reveals disparities in income, health, education

The 44-page report, conducted by public policy nonprofit Every Texan, outlines Collin County's economic status related to race and ethnicity, income, educational attainment and wealth.

Families will soon be able to reserve a spot to participate in Frisco's drive-thru trick-or-treat trail to be held at Warren Sports Complex on Oct. 30. (Community Impact Newspaper)
Frisco to offer drive-thru trick-or-treat trail lit with hot air balloons

Frisco is planning a free drive-thru trick-or-treat experience the night before Halloween at Warren Sports Complex.

The BBQ bacon burger at Wahlburgers is topped with white cheddar cheese, bacon, avocado, jalapeños and barbecue sauce. (Courtesy Wahlburgers)
Wahlburgers passes one-year mark in Frisco

Founded by brothers Mark, Donnie and Paul Wahlberg, the menu includes favorite dishes from each of the brothers.

Frisco City Council approved a zoning change Oct. 20 that will to allow businesses to sell beer and wine in downtown. (William C. Wadsack/Community Impact Newspaper)
Frisco City Council makes zoning change to allow downtown beer and wine sales

Frisco City Council approved a zoning ordinance change that will allow businesses to sell packaged beer and wine in the city’s downtown area.

The location is owned by local husband-wife team Jesse and Mary Rose Merin. (Courtesy Dickey's Barbecue Pit)
Dickey's Barbecue opens in Frisco and more DFW-area news

Read the latest business and community news from the Dallas-Fort Worth area.