Storyline · 17 events · 2003 – Mar 10, 2026
Amarillo's certificates of obligation (2017-2026)
Certificates of obligation (COs) are debt a Texas city council can authorize without an election after publishing notice; under Local Government Code section 271.049 a petition signed by 5% of qualified voters before authorization forces an election. After voters approved two of seven bond propositions in November 2016, the City issued COs for a public safety radio system (2017, $6.94M), a Thompson Park pool replacement (2020, $8.0M), park lighting (2022, $6.815M), landfill and neighborhood park districts (2023, $9.825M), parks and fleet (2025, $15.435M), streets (2025, $11.2M), fleet replacements (Series 2026, $8.52M) and streets plus a Colonies park (Series 2026A, $27.925M), along with smaller special-assessment and airport COs. A 2021 plan for up to $35M in COs for City Hall was withdrawn after a petition (see the new-city-hall storyline). In February 2026 the council tabled a $30.31M streets CO and approved it in March 2026.
A storyline groups dated events in order. It is a chronology, not an argument; it does not say why anything happened. All storylines
- Debt & financing
- Parks & pools
- Construction & streets
- Downtown & development
- Public safety
- Landfill & solid waste
- Votes & elections
Where the story starts depends on the framing
- COs issued since the 2016 bond election: starts with City issues $6.94 million in COs for a public safety radio system (Feb 22, 2017)
- Annual street COs: starts with Council directs a plan to issue debt annually for street maintenance (Aug 2023)
· Context
City issues certificates of obligation for utilities, drainage and neighborhood park districts (2003-2014)
The City's FY2025 financial report lists earlier CO series: Series 2003, 2006, 2008A, 2008B, 2011A and 2011B (parts later refunded by 2020 refunding bonds), water and sewer COs Series 2009, 2009B and 2009C, drainage COs Series 2012A ($6.26M) and Series 2014 COs ($2.26M) for park enhancements in the Greenways and Colonies public improvement districts.[1]
- ✓ Verified
The City's FY2025 financial report says 2020 refunding bonds refunded parts of the City's Series 2003, 2006, 2008A, 2008B, 2011A and 2011B certificates of obligation and $16,480,000 of Series 2009 and $27,140,000 of Series 2009B certificates; it also lists Series 2009C water and sewer COs ($18,075,000, issued December 29, 2009), Series 2012A drainage COs ($6,260,000, issued December 12, 2012, mainly for drainage improvements) and Series 2014 COs ($2,260,000) for park enhancements in the Greenways and Colonies public improvement districts.[1]
- Co 2009c
- $18,075,000
- Co 2012a
- $6,260,000
- Co 2014
- $2,260,000
· Origin
City issues $6.94 million in COs for a public safety radio system
Alongside general obligation refunding bonds issued February 22, 2017, the City issued $6,940,000 in Combination Tax and Revenue Certificates of Obligation, Series 2017, to acquire a two-way radio communications system for the public safety department. The certificates mature through February 15, 2037.[1][2][3]
- ✓ Verified
Section 271.047(d) bars a governing body from authorizing certificates for a purpose for which a bond proposition failed at an election in the preceding three years, with exceptions for certain emergencies and for complying with a state or federal law after notice of noncompliance.[4]
- ✓ Verified
In conjunction with general obligation refunding bonds issued February 22, 2017, the City issued $6,940,000 of Combination Tax and Revenue Certificates of Obligation, Series 2017, to acquire a two-way radio communications system for the public safety department, at 3.00%-3.50% interest, maturing through February 15, 2037.[1][2][3]
- Principal
- $6,940,000
- ✓ Verified
At September 30, 2025, $2,835,000 of the Series 2017 certificates remained outstanding.[2]
- Outstanding fy2025
- $2,835,000
· Context
City issues $3 million in COs for Colonies public improvement district parks
In conjunction with general obligation bonds issued July 18, 2018, the City issued $3,000,000 in Combination Tax and Revenue COs, Series 2018, to improve park facilities in the Colonies Public Improvement District. Debt service is paid from district special assessments.[1][2]
- ✓ Verified
In conjunction with general obligation bonds issued July 18, 2018, the City issued $3,000,000 of Combination Tax and Revenue Certificates of Obligation to improve park facilities in the Colonies Public Improvement District, maturing through February 15, 2038.[1][2]
- Principal
- $3,000,000
- ✓ Verified
The City's financial report says special assessments paid by residents of the Greenways public improvement district service the debt on the certificates issued for its amenities, and that the City issued certificates in 2023 to reimburse the Colonies developer for enhancements.[1]
· Context
City closes Thompson Park Pool
The City closed the Thompson Park Pool, opened in 1931, in December 2018, citing public safety concerns and structural problems.[5]
- ✓ Verified
KFDA reported that the City closed Thompson Park Pool in December 2018 over public safety concerns; the pool opened in 1931, had been renovated three times and was closed for structural problems.[5]
· Related development
Council votes to publish notice of up to $8.15 million in COs; online petition seeks a vote
Texas Scorecard reported that the council voted to publish notice of intent to issue up to $8.15 million in COs for a new pool, and that residents started an online petition asking for a public vote, which it said City officials would not accept. State law requires an election if a petition signed by 5% of qualified voters is filed before the certificates are authorized.[6][4]
- ✓ Verified
Texas Local Government Code section 271.049 bars issuing certificates of obligation unless the issuer publishes notice of intent (twice in a newspaper, the first time before the 45th day before the planned vote, and for 45 days on its website); if a petition signed by at least 5% of qualified voters protesting the issuance reaches the city secretary before authorization, the certificates may be authorized only if approved at an election.[4]
- Unverified
Texas Scorecard: Texas Scorecard reported in April 2020 that the council had voted to publish notice of intent to issue up to $8.15 million in certificates of obligation for a water park.[6]
- Max principal
- $8,150,000
- Unverified
Texas Scorecard: Texas Scorecard reported that residents started an online Change.org petition asking for a public vote on the debt, with more than 1,600 signatures at publication, and said City officials would not accept an online petition; it noted that state law requires an election if a petition signed by at least 5% of registered voters is filed before the debt is issued.[6]
· Related development
Council approves COs for a Thompson Park Pool replacement
In May 2020 the council approved certificates of obligation for a new Thompson Park pool. KFDA reported $7.9 million; City financial reports record Series 2020 COs of $8,000,000 for park and recreation facilities, maturing through 2050.[5][1][3]
- ⚠ Sources differ
Reported amount of the 2020 certificates for the Thompson Park pool replacement.
Reported value 1[5]
- Principal
- $7,900,000
KFDA: in May 2020 the council approved $7.9 million in certificates of obligation for a new pool.
- ⚠ Sources differ
City documents give different issue dates for the Series 2020 certificates.
- ✓ Verified
KFDA reported in July 2020 that the new pool would include a lazy river for 220 guests, cabanas and a main pool area for 400 guests, with a tentative opening around Memorial Day 2021.[5]
· Context
City issues $975,000 in COs for Greenways public improvement district parks
The City issued $975,000 in Combination Tax and Revenue COs, Series 2021, to improve park facilities in the Greenways Public Improvement District, paid from district special assessments.[1][3]
· Related development
City issues $6.815 million in COs for park lighting
The City issued $6,815,000 in Combination Tax and Revenue COs, Series 2022, for acquiring, constructing, improving and installing lighting for park and recreational facilities, maturing through 2043.[1][3]
· Related development
City issues $9.825 million in COs for the landfill and two neighborhood park districts
In December 2022 the City said it would take COs to the council on January 10, 2023 for the next landfill phase and for park amenities in the Colonies and Heritage Hills public improvement districts. City financial reports record Series 2023 COs of $9,825,000: $5,865,000 supported by solid waste revenue for landfill facilities and $3,960,000 supported by district assessments.[7][1][2]
- ✓ Verified
KFDA reported in December 2022 that the City planned to issue more than $10 million in debt: $6.3 million for the landfill's next phase and about $4.2 million for park amenities in the Colonies and Heritage Hills public improvement districts, to be paid only by residents of those districts, over 20 years; the City planned to sell the debt and take it to the council on January 10.[7]
- Landfill planned
- $6,300,000
- Pid parks planned
- $4,200,000
- ✓ Verified
Laura Storrs, Assistant City Manager and Chief Financial Officer: Chief Financial Officer Laura Storrs said, "We need to develop the next phase of our landfill out there to make sure we have capacity for many years going forward," and that the City was "matching those that are using that portion of the landfill with those that are actually paying for the services."[7]
- ⚠ Sources differ
Amounts for the 2023 landfill and park-district certificates.
Reported value 1[7]
- Landfill
- $6,300,000
- Pid parks
- $4,200,000
Planned amounts reported by KFDA in December 2022.
- Total
- $9,825,000
- Landfill
- $5,865,000
- Pid parks
- $3,960,000
Issued: ACFR Note 13 records $9,825,000 of Series 2023 COs for landfill and park facilities; the debt schedule lists $5,865,000 supported by solid waste revenue for landfill facilities and $3,960,000 supported by district assessments.
· Related development
Council directs a plan to issue debt annually for street maintenance
KFDA reported that in August 2023 the council directed staff to develop a plan for issuing debt each year for street maintenance and reconstruction. A revised plan went to the council in February 2025.[8][9]
- ✓ Verified
KFDA reported that in August 2023 the previous council directed staff to develop a plan for issuing debt annually for street maintenance and reconstruction, that a revised plan went to the council in February 2025, and that debt was issued for the 2025 summer maintenance program.[8]
- ✓ Verified
Strategic Partnerships Inc. reported that the street plan set by the council in 2023 calls for issuing bonds every year for a decade, and put the cost of fully fixing the City's street backlog at an estimated $400 million.[9]
- Street backlog estimate
- $400,000,000
· Context
City issues $3.085 million in COs for airport hangars
The City issued $3,085,000 in taxable Combination Tax and Revenue obligations, Series 2024, for municipal airport hangars, serviced by airport fund revenue and maturing through 2044.[1][2]
- ⚠ Sources differ
City documents describe the 2024 airport debt ($3,085,000, for municipal airport hangars, maturing through 2044) under different names.
· Related development
Council approves COs for parks and vehicles; $15.435 million issued
After publishing notice of up to $17 million in COs for park and recreation facilities and vehicles and equipment for the solid waste, police, street and parks departments, the council took up the certificates on April 8, 2025. KFDA reported a unanimous vote. City financial reports record Series 2025 COs of $15,435,000 maturing through 2055.[10][11][1][2]
- ✓ Verified
Section 271.049 requires the notice to state the meeting time and place, the purpose, how the certificates will be paid, the issuer's outstanding tax-supported debt principal and total principal and interest, the maximum principal of the certificates, their estimated principal and interest, the interest rate limit and the maximum maturity date.[4]
- ✓ Verified
The City's notice set an April 8, 2025 meeting to consider up to $17,000,000 in certificates of obligation for park and recreation facilities and for vehicles and equipment for the solid waste, police, street and parks and recreation departments, payable from property taxes and a limited pledge of the waterworks and sewer system; it stated outstanding tax-supported principal of $188,553,000 and estimated principal and interest on the new certificates of $24,161,329, with a maximum maturity of September 30, 2055.[10]
- Max principal
- $17,000,000
- Outstanding tax supported
- $188,553,000
- Est principal and interest
- $24,161,329
- ⚠ Sources differ
What the council approved on April 8, 2025.
Reported value 1[11]
- Parks max
- $17,000,000
- Streets max
- $12,500,000
- Vote
- unanimous
KFDA reported the council unanimously approved two certificates totaling nearly $30 million: up to $17 million for parks and up to $12.5 million for streets.
- ✓ Verified
Mayor Cole Stanley: Mayor Cole Stanley said the certificates would not affect residents' tax rates because they were built into the budget the previous September, and said, "These roads are not going to get any less expensive."[11]
- ⚠ Sources differ
Issued amount and date of the Series 2025 certificates.
- Principal
- $15,435,000
- Date
- 2025-05-08
Debt schedule and ACFR statistical table: $15,435,000, issue date 5/8/2025, maturing 2055, 5.00% interest.
Reported value 2[1]
- Principal
- $15,453,000
- Date
- 2025-02-15
ACFR Note 13 text: 'On February 15, 2025, the City issued $15,453,000 ...' for park and recreation facilities and vehicles and equipment.
· Related development
City issues $11.2 million in Series 2025A COs for streets
The City's notice set June 10, 2025 for an ordinance authorizing up to $12.5 million in COs for streets, alleys, culverts and bridges. City financial reports record Series 2025A COs of $11,200,000 maturing through 2035, with debt service from property taxes.[12][1][2]
- ✓ Verified
The City's notice set a June 10, 2025 meeting to consider up to $12,500,000 in Series 2025A certificates for streets, alleys, culverts and bridges, stating outstanding tax-supported principal of $189,088,000 and estimated principal and interest on the new certificates of $14,408,604, with a maximum maturity of September 30, 2036.[12]
- Max principal
- $12,500,000
- Outstanding tax supported
- $189,088,000
- Est principal and interest
- $14,408,604
- ✓ Verified
The City issued $11,200,000 of Combination Tax and Revenue Certificates of Obligation, Series 2025A, for streets, at 4.00%-5.00% interest, maturing through February 15, 2035; the ACFR says debt service is funded by property taxes.[1][2]
- Principal
- $11,200,000
- ✓ Verified
The City's FY2025 financial report shows governmental-activities certificates of obligation outstanding of $43,450,000 at September 30, 2025, up from $17,645,000 a year earlier (excluding special-assessment, solid waste, airport and utility-supported COs, which are reported separately).[1]
- Outstanding fy2024
- $17,645,000
- Outstanding fy2025
- $43,450,000
- ✓ Verified
Texas Comptroller data record $68,041,000 in certificate-of-obligation principal outstanding for the City of Amarillo and $144,695,000 in other tax-supported principal (together $212,736,000, the FY2025 general obligation principal in the same dataset).[13]
- Co principal
- $68,041,000
- Non co principal
- $144,695,000
- Go principal fy2025
- $212,736,000
· Related development
City issues $8.52 million in Series 2026 COs for fleet replacements
The City published notice that the council would consider up to $10 million in Series 2026 COs on December 9, 2025 for park facilities and vehicles and equipment for nine departments. The City's FY2025 financial report records $8,520,000 in Series 2026 COs for fleet replacements, paid through property taxes.[14][1]
- ✓ Verified
The City's notice set a December 9, 2025 meeting to consider up to $10,000,000 in Series 2026 certificates for park facilities and vehicles and equipment for the waterworks and sewer, street, traffic, solid waste, parks, fleet, animal management and welfare, drainage and environmental health departments; it stated outstanding tax-supported principal of $212,736,000 and estimated principal and interest on the new certificates of $10,863,023.[14]
- Max principal
- $10,000,000
- Outstanding tax supported
- $212,736,000
- Est principal and interest
- $10,863,023
- ✓ Verified
The City's FY2025 financial report (subsequent events) records $8,520,000 of Combination Tax and Revenue Certificates of Obligation, Series 2026, at 4%-5% interest, for fleet replacements to be paid through property taxes.[1]
- Principal
- $8,520,000
· Related development
City publishes notice of up to $30.31 million in Series 2026A COs
The City published notice that the council would consider up to $30,310,000 in Series 2026A COs on February 10, 2026. The notice first listed park facilities and vehicles and equipment; a revised notice listed park facilities and street construction. KFDA reported on the council's discussion of the plan in late December 2025.[15][16][17]
- ✓ Verified
The City's notice set a February 10, 2026 meeting to consider up to $30,310,000 in Series 2026A certificates, stating outstanding tax-supported principal of $212,736,000 and estimated principal and interest on the new certificates of $43,883,993, with a maximum maturity of September 30, 2046.[15][16]
- Max principal
- $30,310,000
- Outstanding tax supported
- $212,736,000
- Est principal and interest
- $43,883,993
- ✓ Verified
The Series 2026A notice posted in December 2025 listed park facilities and vehicles and equipment for nine departments; a revised notice posted in January 2026 listed park facilities and street construction and improvements, with the same $30,310,000 maximum and February 10, 2026 date.[15][16]
- ✓ Verified
KFDA reported in December 2025 that the council discussed Series 2026A certificates to fund departments including fleets, equipment, streets, traffic, solid waste and environmental health, and that City officials said there would be no future tax increase on these funds.[17]
· Peak
Council tables the $30.31 million streets CO; approves fire apparatus and water-sewer debt
At its February 10, 2026 meeting the council tabled Ordinance No. 8236 for $30,310,000 in Series 2026A COs. The same day it approved other debt that is not certificates of obligation: Public Property Finance Contractual Obligations for fire apparatus and Waterworks and Sewer System Revenue Bonds.[18][19][20][21][1]
- ✓ Verified
At the February 10, 2026 meeting, before public comment, Mayor Cole Stanley announced that the item to issue $30,310,000 in certificates of obligation (Ordinance No. 8236) for street projects was withdrawn and tabled.[19][21]
- Max principal
- $30,310,000
- ⚠ Sources differ
Mayor Cole Stanley and unnamed City officials: Reasons reported for tabling the Series 2026A certificates.
Reported value 1[19]
- Value
- not ready
ABC7 (KVII): Stanley gave no details beyond that the council 'weren't ready to tackle it yet.'
Reported value 2[20]
- Value
- public improvement district items not ready
ABC7 (KVII): Stanley said the council could not act on part of the package because of issues tied to public improvement districts, because 'the rest of the bond wasn't ready.'
Reported value 3[21]
- Value
- audit
KFDA: officials said the certificate was not ready because the City was undergoing an audit and wanted to see whether it had money to use instead of borrowing; the money was not needed until summer budget discussions.
- ✓ Verified
Mayor Cole Stanley: Stanley said, "Everything results in a tax increase if we can't work it within the existing budget," and said that if the debt could not be built into the budget the council would vote on it or take it to voters in a bond election.[20]
- ✓ Verified
On February 10, 2026 the City issued $4,515,000 of Public Property Finance Contractual Obligations, Series 2026, for fire apparatus (property taxes) and $5,945,000 of Water Sewer Revenue Bonds (water customer revenues); neither is a certificate of obligation.[1][18]
- Fire apparatus ppfco
- $4,515,000
- Water sewer revenue bonds
- $5,945,000
- ✓ Verified
Councilmember Don Tipps: Councilmember Don Tipps said, "we've got that CO much like the use of a credit card," and said locking in costs was beneficial because the City lacked cash to pay outright but had revenue to make payments.[21]
· Resolution
Council approves Series 2026A COs for streets and a Colonies park
The council approved the Series 2026A certificates, including $12 million for the 2026 summer street maintenance program and $16 million for Osage Street from 34th to 58th Street. The City's FY2025 financial report records $27,925,000 issued on March 10, 2026 for street construction (property taxes) and Colonies Public Improvement District park improvements (district assessments).[8][9][1]
- ⚠ Sources differ
Amount of the Series 2026A certificates approved in March 2026.
Reported value 1[1]
- Principal
- $27,925,000
FY2025 ACFR subsequent events: on March 10, 2026 the City issued $27,925,000 of Series 2026A COs for street construction (property taxes) and Colonies Public Improvement District park improvements (PID assessments).
- ✓ Verified
KFDA reported that $12 million is for the 2026 summer street maintenance program and $16 million for design and construction of Osage Street from 34th to 58th Street, with construction projected to take two years.[8][9]
- Summer maintenance
- $12,000,000
- Osage street
- $16,000,000
- ✓ Verified
Councilmember Tim Reid; Mayor Cole Stanley: Councilmember Tim Reid said, "If we wanted to do our streets, $400 million. We can't possibly fund that"; Mayor Cole Stanley said "CO's are not only used for emergencies" and "this money is being borrowed within our existing tax rate."[8]
Related storylines: Moving Amarillo City Hall into the renovated Amarillo Hardware building (2016-2025)Amarillo's public swimming pools: the Thompson Park Pool replacement and the Southwest and Southeast pool closures (2018-2026)Amarillo's property tax rate and voter-approved debt (2016-2026)Financing the Amarillo Civic Center expansion and renovation (2016-2026)City of Amarillo landfill: permit, cell construction, gas system, fees and the May 2026 fire (2007-2026)