The breakdown
Prosper Town Council members during a July 23 meeting approved three resolutions allowing town staff to issue up to no more than $69.1 million in bond funds.
- $33 million in tax and surplus revenue certificates of obligation
- $36 million in general obligation bonds
- $33 million in water and sewer revenue bonds
The first and third resolutions are for the same project—kickstarting construction to expand the Doe Branch Water Reclamation Plant and parallel interceptor, a more than $242 million project shared with the city of Celina.
Town staff will do a study over the next two weeks to decide which option—the tax and surplus revenue or the water and sewer revenue—works best, according to a meeting presentation.
“It will be one or the other,” said Ryan Patterson, Prosper’s assistant director of finance.
The second resolution will go toward town projects related to public safety, parks and recreation and transportation. They represent the voter-approved Propositions A, B and C from Prosper’s bond election in 2020.
- $10.2 million: Fire Station No. 4 construction
- $10.9 million: Raymond Community Park continued construction
- $9 million: First Street construction
- $1.7 million: Coit Road construction
- $1.4 million: Teel Parkway construction
- $650,000: Legacy Drive construction
- $2.56 million: Braided ramp construction with the North Texas Tollway Authority
Stay tuned
The town’s pricing officer is expected to adopt the final pricing and close the sales on Aug. 6. The town should then receive the funds Sept. 4, according to meeting documents.
