McKinney City Council unanimously authorized roughly $124 million in bond sales across three different bond packages to fund several city projects as part of the city’s Capital Improvement Program during a March 18 council meeting, according to city documents.
In a nutshell
Council unanimously approved all three bond packages, all to be paid back over 20 years. The bonds include:
- $37 million in general obligation bonds
- $29.2 million in bond refunds from general obligation bonds issued in 2014 and 2015
- $30 million in certificates of obligation
- $25 million in water and sewer revenue bonds
- $2.9 million in bond refunds from water and sewer revenue bonds issued in 2015
The certificates of obligation include $20 million in general obligation bonds to finance renovations for the Roy and Helen Hall Memorial Library, as well as additional $10 million for McKinney Performing Arts Center renovations, according to a presentation from McKinney Chief Financial Officer Mark Holloway.
