Missouri City looking to issue $20M in bonds

Missouri City is looking to issue approximately $20 million in 2023 through general and utility bond debt to fund a series of drainage, streets, parks and facilities improvements.

Officials at the Dec. 19 City Council meeting said these funds would be used for capital improvement projects throughout the city.

The list of projects is extensive and includes approximately $1.5 million in funding for Freedom Tree park, among other projects.

According to Finance Director Allena Portis, the city still has approximately $71.2 million in authorized, but unissued, bonds.

The largest chunk of funding comes by way of street improvement projects, to which have been allocated $11.6 million, including road reconstruction and signalization.

Next steps for the city are to publish the proposed bond issues in the newspaper and to receive a rating agency call, which is set for Feb. 6. Competitive bids will be due March 6, and funds will be available for the city to use in April.