City of Richardson to issue more than $76 million worth of debt in 2020

Richardson City Council approved the issuance of more than $76 million worth of debt at its Jan. 27 meeting. (Makenzie Plusnick/Community Impact Newspaper)
Richardson City Council approved the issuance of more than $76 million worth of debt at its Jan. 27 meeting. (Makenzie Plusnick/Community Impact Newspaper)

Richardson City Council approved the issuance of more than $76 million worth of debt at its Jan. 27 meeting. (Makenzie Plusnick/Community Impact Newspaper)

The city of Richardson will issue more than $76 million worth of debt in 2020, according to a Jan. 27 presentation made by George Williford, managing director at HilltopSecurities, the city’s financial advisor.



Roughly $47 million will be used to issue general obligation refund bonds, which refinance the city’s existing debt.



About $15 million will be used to issue general obligation bonds, or voter-approved costs related to the maintenance of municipal buildings, improvements of streets and sidewalks, and the upkeep of parks and recreation facilities.



The remaining $14 million will be used to issue certificates of obligation, or debt incurred on short- or long-term expenses that do not require voter approval. Certificates of obligation are used to pay for information technology, fire and solid waste equipment as well as costs related to water and sewer infrastructure, the city's Director of Finance Keith Dagen said.



Once this debt has been issued, Dagen said the city will have $13.3 million left of the $115 million bond approved by voters in 2015. The remaining debt is scheduled to be issued in 2021.



The next municipal bond election is expected to go before voters in November 2021, according to the city.



Council approved the debt issuance in three separate votes. All were approved unanimously.



MOST RECENT

Taco Palenque is now open as drive-thru only in Round Rock. (Brooke Sjoberg/Community Impact Newspaper)
CI NATION ROUNDUP: Taco Palenque opens in Round Rock; Plano ISD considering two draft calendars for 2022-23 school year and more top news

Take a look at the top five trending stories across all of Community Impact Newspaper’s coverage areas as of Oct. 21.

Renderings of the conceptual tower were shown depicting a roughly 100-foot tower, but the intent is to build a smaller tower. A total of $2.43 million was given as an estimated cost for a 100-foot gravity tower, but presenters said the cost would scale down with a smaller tower. (Courtesy city of Frisco)
CI NATION ROUNDUP: Early concept for Frisco’s Northwest Community Park includes biking tower for ‘gravity riding’; Perky Beans Cafe now open in Leander, and more top news

Take a look at the top five trending stories across all of Community Impact Newspaper’s coverage areas as of Oct. 20.

People in a meeting.
Richardson ISD trustees approve first round of Student Health Advisory Council members

While the council includes representatives from each of the district’s learning communities, Deputy Superintendent Tabitha Branum said there is room for more members.

Food.
Greenville Avenue Pizza Co. expects to open Richardson location in November

GAPCo, as the eatery is also known, originally hoped to open its Richardson location by the end of 2020, but delays related to construction and the coronavirus pandemic pushed that date back.

Drone-based delivery company Wing, a subsidiary of Alphabet, announced on Oct. 20 a partnership with Walgreens to bring the unconventional delivery model to densely populated metropolitan areas in the country. (Courtesy Wing)
Delivery drones will soon be flying around Frisco; Dutch Bros Coffee coming to Grapevine and more DFW-area news

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

Calendar.
Plano ISD considering two draft calendars for 2022-23 school year

Draft A would have the school year begin Wednesday, Aug. 10, 2022 and end on Friday, May 26, 2023. Draft B would see the school year begin on Monday, Aug. 8, 2022 and conclude on Thursday, May 25, 2023.

Collin College's baccalaureate nursing classes are held at the Cary A. Israel Health Sciences Center in McKinney. (Brooklynn Cooper/Community Impact Newspaper)
Collin College, Tarrant County College sign agreement to streamline bachelor's degree in nursing

The agreement was signed to address the need for highly qualified nurses in Texas, a news release said.

Mosquito.
Richardson to spray Oct. 19-20 after mosquito trap tests positive for West Nile virus

The Richardson Health Department plans to spray for mosquitoes in the southeast section of the city after another trap in the area tested positive for West Nile virus.

Want to know more about new businesses coming to the Katy area? Below you can find details on the five latest commercial projects filed in Katy. (Courtesy Canva)
CI NATION ROUNDUP: Read the latest top news about restaurants, businesses and other commercial projects that are coming soon or now open

Take a look at the top five trending stories across all of Community Impact Newspaper’s coverage areas as of Oct. 19.

Twisted Root Burger Co. plans to open in the space formerly occupied by Hub Streat in Plano. (Courtesy Twisted Root Burger Co.)
Twisted Root Burger Co. coming to Plano; Chick-fil-A to open Oct. 21 in McKinney and more DFW-area news

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

Business signs.
Mixed-use development CityLine marks 5th anniversary in Richardson

“We at CityLine are proud to be part of Richardson and can’t wait to continue growing, evolving and thriving over the next several years and decades,” CityLine Director of Marketing Jessica Robertson said.