During its April 21 meeting, Tomball City Council approved publishing a notice of intent to issue $30 million in certificates of obligation—a way cities can borrow money—to fund capital projects.

“It doesn't obligate the city to issue the debt,” Assistant City Manager Jessica Rogers said. “It allows us to start the process that over the next few months, we'll be going through and doing our due diligence and preparing for the issuance that would occur in June.”

Rogers said by publishing the notice of intent, the city can not exceed the $30 million amount for the issuance.

The details

The $30 million will be used for two fiscal year 2024-25 capital improvement projects, Rogers said.
Roger said the issuance timeline is as follows:
  • April 21: approved publishing notice of intent to issue certificates of obligation
  • Between April-June:
    • Publish required notices
    • Prepare a preliminary official statement
    • Rating agency and due diligence calls take place
  • June 16: approve ordinance authorizing the certificates of obligation
  • July 8: closing and delivery of funds