The Amarillo Pioneer

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Amarillo City Council to Consider Issuing $59.75 Million in Debt

Amarillo City Hall/Photo by Noah Dawson

When Amarillo City Council meets for their March 26th regular meeting, they will be facing $3.7 million in spending items and $59.75 million in debt issuances.

Of the spending issues, all of which are on the consent portion of the agenda, the largest is a $1.3 million contract to replace the ice rink floor at the Amarillo Civic Center. The contract, listed on the item as 9O, is set to go to Panhandle Steel Buildings, Inc. Only one other spending items were over half a million. That item, 9U, is the purchase of tablets and related equipment from Dell Financial Services for the Amarillo Police Department. That item comes with a price tag of $707,467.86. A full summary of spending items is included at the end of this article.

The council will also consider nearly $60 million in debt issuances across 3 items. The largest of these, labeled “City of Amarillo, Texas, Drainage Utility System Revenue Bonds, Series 2024,” will be for “up to approximately $43 million in proceeds” to be used for improvements to the city’s drainage system. The item was a priority for the council during the budget sessions last year, following record flooding. The debt will be paid for with a 47% rate increase approved by the council during the budget process.

The next largest debt issuance, labelled “City of Amarillo, Texas, Combination Tax and Revenue Certificates of Obligation, Series 2024,” is for $13,500,000. These funds will be used for “paying contractual obligations to be incurred for (i) constructing and improving streets, including drainage, landscaping, curbs, gutters, sidewalks, entryways, pedestrian pathways, signage, traffic signalization and the acquisition of land and rights-of-way therefor and (ii) professional services rendered in connection therewith,” according to an agenda memo published by the city.

The smallest of the debt issuances, labelled “City of Amarillo, Texas, Combination Tax and Revenue Certificates of Obligation, Taxable Series 2024,” is for $3,250,000. According to an agenda memo published by the city, these funds will be used for “paying contractual obligations to be incurred for (i) constructing, improving and equipping municipal airport hangers and (ii) professional services rendered in connection therewith.”

In addition to considering new debt issuances, the council will recieve an update on the previously issued Proposition 1 bonds.

The regular meeting will take place at 3:00 pm in the council chamber. The council will also hold two other meetings on Tuesday, March 26th. The first meeting, which will begin at 8:30 am. That meeting, which will be open to the public, will involve discussion on topics including “governance and ends policies, public safety, infrastructure, development, community services, parks and recreation, water resources, public works, finance, council strategic pillars and milestones, policies and procedures, the Amarillo City Charter, ordinances, resolutions, and other matters related to the desired direction and plans for the City.” The agenda for that meeting can be found at this link.

The city will also hold a closed-door executive session at 1:00 pm to discuss the jail services agreement with Randall County, the purchase or sale of property in Southwest Amarillo, and a “Performance Matrix for Interim City Manager.” The agenda for that meeting can be found at this link.

Those interested in speaking during the regular meeting are encouraged to sign up at this link. The agenda and agenda packet for the regular meeting can be found at this link.

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