College Station City Council Approves $43 Million in Obligation Certificates
The City Council of College Station, Texas, voted on Thursday evening to issue $43 million in certificates of obligation, permitting the city to finance crucial infrastructure projects without direct voter approval. The resolution passed with a majority of five to one, with Place 4 Councilwoman Elizabeth Cunha being the lone dissenting vote.
Allocation of the Certificates of Obligation
These $43.3 million in certificates of obligation include slated amounts of $16.5 million for utility projects and $26.8 million for governmental projects. The utility projects will further be divided into water projects of around $2,000,000, wastewater plant upgrades of $4,500.00 and electric projects amounting to $10,000,000, which include general plant, overhead, underground, and transmission projects.
About the Water and Wastewater Projects
The water projects consist of significant rehab schemes, including those on Lincoln Avenue. The wastewater plant upgrades include the Carter Creek Diversion Lift Station, Force Main, and other rehabilitation projects.
Governmental Projects Breakdown
The $26.8 million allocated for governmental projects covers projects such as city-wide fiber upgrades, facility redesigns, and street and park refurbishments. Around $1,100,000 is set aside for city-wide fiber, including fiber optic infrastructure and extension for signals.
Additionally, plans for facility upgrades and new projects have been allotted $12,500,000. These initiatives include the design of the Public Works Operations Center, implementation of a facilities master plan approved in the FY23 Budget, and maintaining existing facilities, including HVAC replacements and fire station doors.
Allocations towards streets, sidewalks, and paths total $5,500,000. This category targets the improvement of streets and sidewalks near schools, A&M, and Wellborn. Parks and recreational facilities are to receive $7,700,000, an amount intended for ballfield development and equipment replacement at several locations, including Bee Creek, Brothers, Central, Southern Oaks, Merry Oaks, University Park, and others.
Authorization of General Obligation Bonds
Apart from the certificates of obligation, the city council also authorized up to $30.3 million in voter-approved General Obligation Bonds. These bonds, which were unanimously approved by the council, include $13.2 million for park improvements decided on by voters in 2022 and $17.1 million for the refunding of the certificates of obligation originally issued in 2014. Refunding this older debt is expected to save the city nearly $1.2 million.
The allocation of these resources is a significant stride in the city’s growth and infrastructure development. The community expects to see notable improvements across the city in the coming years due to these investments.
This move underscores the city council’s commitment to improving infrastructure and living standards for citizens of College Station.
