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The city of Friendswood is considering issuing $23 million in bond sales early next year to fund nearly a quarter of over $100 million in capital improvement projects identified as critical in a 2024 study.
What residents should know
At its Nov. 2 meeting, Friendswood City Council heard Financial Advisor John Robuck present a plan to issue $22.55 million in Series 2027 Water and Sewer Revenue Bonds scheduled for sale in February.
The funding targets major projects, including:
$8.5 million water line expansion along Friendswood Parkway
$8.7 million waterline along FM 518
$2.3 million inflow and infiltration removal
$2 million water main replacement
Diving in deeper
The new lines will stabilize system pressure and help prevent frequent line breaks, such as an October break which forced an elementary school to close, which resident Roy Chapman brought up during the meeting’s public comment portion.
Revenue bonds are repaid through impact fees and water and sewer fees, which are scheduled to increase in January 2027, Finance Director Rhonda Bloskas said at the meeting.
Next steps
Robuck’s team will present the final sale results and interest rates to City Council in February for final approval, Robuck said.
