Jersey Village City Council issued $25.7 million in bonds—from the city’s $33.8 million bond package approved by voters in November—for eight upcoming projects.

In a nutshell

On Jan. 22, council unanimously approved the issuance of the first set of bonds, which will be sold for an expected interest rate of 4.25%, city staff said. The bonds were issued for projects that need to be financed within the next two years, according to meeting documents.

According to meeting documents, the projects to be covered by the first series of bonds are:
  • Congo Street project for $4.25 million
  • Singapore Street project—running from Senate Street to Solomon Street—for $2.92 million
  • Australia Street project for $1.88 million
  • Seattle Street project—running from Solomon to Senate—for $2 million
  • Solomon Street project for $4.49 million
  • White Oak Bayou Plant project for $6 million
  • Replacing all sewer pipes that were placed before 1980 for $3.7 million
  • A walking and bicycle bridge at Equador Street for $500,000
City leaders hope to sell the bonds and gain the funds by late April, according to meeting documents. The designing of the projects would also begin in late April, except for the Congo Street project, which city officials hope to hire project contractors for in March or April.

The background

As previously reported by Community Impact, Jersey Village’s November bond package went before voters with three propositions:
  • Proposition A for $19 million in bonds for pool and park renovations
  • Proposition B for $15.8 million in bonds for water and sewer improvements
  • Proposition C for $18 million in bonds for road and bridge repairs.
  • Propositions B and C passed, while A failed before voters.
Also of note

On Jan. 22, city leaders also announced they will be accepting applications from residents for a bond committee until mid-March. Committee members would be responsible for helping the city prepare for a possible November 2024 bond election.