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Denton City Council unanimously approved the intent to reimburse approximately $384 million for capital improvement projects at an Oct. 21 meeting.
Assistant Finance Director Matt Hamilton said this allows the city to begin these projects with existing cash and reimburse itself later through the sale of bonds.
The money will go toward general government, solid waste, water, wastewater and electric utilities.
The specifics
The city is paying for these projects through two different kinds of bonds: general obligation bonds and certificates of obligation.
The general obligation bonds, which were approved by voters in the 2023 election, total $44.22 million and will be used for:
Looking ahead
Hamilton said staff will come back to council in April to adopt a notice of intention, which notifies the public that the city is selling certificates of obligation.
If market conditions are favorable, the city plans to sell the bonds in June, with an expected fund delivery date 30 days later in July, Hamilton said.
